He had $42,000 stolen from his BMO account: “fraud was paid to the bank”

A Bank of Montreal (BMO) customer who had nearly $42,000 stolen from his account can't believe the fraud is generating thousands of dollars in interest for his bank, he can wash his hands of it.

• Also Read: “There was a terrible breach”: He had $10,000 stolen from his BMO account for his children's education

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“To date, the fraud has brought the Bank of Montreal (BMO) more than $5,000 in interest,” complained Pierre Lequin, posted in front of his BMO on rue Mason in Montreal.

“I have been a customer there for 30 years. If I treated my customers like that, I would be gone a long time business Will be closed,” sighed a 66-year-old businessman, head of an import SME.

On Wednesday, the business owner had a lot to say about the ordeal he's been through in recent months, which prompted him to file a police report.

“In addition to the interest BMO takes directly from my account, my credit ratings are also affected by this fraud,” Pierre Lequin concluded his forbearance.

Pierre Lequin has been a BMO client for over thirty years.

Photo by Frances Hallin

Terrible story

Pierre Lequin's horror story began last year on Halloween. He noticed that $24,500 had disappeared from his line of credit.

He then called his BMO credit card to alert them and tell them not to transfer this money. However, it was not only too late, but the next day, he was surprised to notice another fraudulent transaction, this time for $17,000.

Despite his endless phone calls and emails, nothing helped: the company refused to reimburse him.

Each time, BMO tells him that someone used his PIN and answered the security question because he never used his PIN or made a purchase using it.

“I have been honest all my life. I have been doing import business for 35 years. I am the victim of something very strange. It shocks me because I also bring big clients to BMO,” he says.

“It's a bank's responsibility to look after the money,” he says without getting angry.

Today, he is awaiting a response from the Ombudsman for Banking Services and Investments (OBSI) for a solution. “If it's negative, I will file a lawsuit,” he said, naming the large law firm responsible for the case.

BMO defends itself

asked News magazineBMO lists the security rules for the banking sector.

The firm also indicated that “we are always ready to re-examine the files when new information becomes available and we have reached out to our client to discuss the matter.”

BMO said it wants to work on “better information sharing between government and policymakers – and to fill the gaps between telecommunications, technology and social media companies and other financial institutions – to help Canadians protect themselves from scams.”

Many other cases

Over the past few months, News magazine BMO has reported several other cases of fraud involving accounts. Here are three.

He was cheated twice even though he had no job

Photo by Martin Alary

While he was unemployed, Fouad Allam was deceived twiceIn 2022 and 2023, the total is $6,200.

A young doctor was robbed of $15,000

Photo provided by Asselin Weng

Asselin Weng, a young doctor, says she had $15,000 stolen from her BMO account after a questionable transaction on the marketplace.

He saw $12,000 disappear during one trip

Mahdi Machani

Father Mahdi Machani saw $12,000 evaporate from his BMO account after his phone was stolen at his 40th birthday party in Chile.

– In collaboration with Philippe Langlois