Help to reclaim money from CIMB

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asked on Dec 7, 2015 at 22:09
We (refer as company A) are a registered and established business entity in Vietnam. Our company performs regular trading under signed cooperation contract with a Malaysian company (Hereafter refers as company B).

We would like to seek your consultation to support the following issue

On June 16th, 2015, A and B signed the purchasing contract with total contract value of US$ 31.621,50, and on the same date, two parties confirmed the payment documents were correct and we then arranged payment as per usual.  However, at 13:40 on June 17th, 2015, we received a fake email (inserted into our chain of email correspondence with the authentic email), informed us that the beneficiary’s account is changed from B to be SOLUTION ONE TRADING at CIMB Malaysia, backed up by a fake scanned confirmation letter with B's signature & stamp. In the email, all B's c/c email had been changed to the fraudulent domains.

Trusting the request was genuine with real confirmation letter from B, we had made the payment transaction to SOLUTION ONE TRADING as indicated in its letter with the amount of USD 31.621,50 via HSBC Vietnam Bank on June 24th 2015.  After payment, we sent scanned payment slip, the scammer edited the information on the scanned copy and then sent to B, using a fake A’s email with fake domains. Moreover, the scammer blocked all related emails correspondence between A & B, and created fraud email to make both A and B think the payment had been done correctly.

With the same technique, the scammer continued asking us to make payment for the second contract dated June 23rd, 2015 with the amount of US$ 28.966,50 to SOLUTION ONE TRADING account.

After having transferred the payment, HSBC Vietnam Bank raised alert about the transactions and requested us to check directly with B about the new beneficiary account, then the scam was detected.  Immediately, A and HSBC Vietnam Bank has report to CIMB Bank Malaysia about the scam status, and requested blockage of the fraudulent account and refund the transferred sum to A.  On Malaysia side, B had also reported the fraud to local police force and informed to CIMB Bank about the case.

On July 07th, 2015, we received following status report on our payments to Solution One Trading at CIMB Bank Malaysia:
•         The payment of USD 31.621,50 made on June 24th 2015 had been withdrawn by cash
•         The payment of USD 28.966,50 made on June 30th 2015 hasn’t been withdrawn because the account is blocked by CIMB Malaysia.

Accepting that the amount USD 31.621,50 was unrecoverable, we are seeking help from a lawyer office on Malaysia to represent us to recover the USD 28.966,50, and we paid the lawyer office RM 5000. Now that, after investigations from CIMB, they claim that they are unable to contact the fake account holder so they are unable to refund us the withholding USD 28.966,50. CIMB bank said we can open a court order and they will comply with a legal, valid court process. On the lawyer office site, they asked for another RM 30k-50k for proceeding high court.

So does it make sense (in the view of law) that the bank are trying to call the response from the account holder, which is a fake company in this case. Obviously, they are unable to do so, thus they are requiring a court process in order to refund the money. We considered this is not very convincing motivation to call for a high court order. Why would recovering such fraudulent fund from a non-existent company be so complicated? And the potential additional legal fee (as much as RM 30-50K, that is almost half the amount we are recovering) seems too much. Is it the bank’s responsibility to refund the fraud amount to the remitter? (We have submitted all the police report (both from police department of Vietnam and Malaysia and all required, related documents)
Could anyone tell us more clearly about Malaysian regulation and is it reasonable to file the court that so costly and complexed. Is there any regulation that can solve the issue with the lowest possible cost?

We are looking for your consultation!

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1 Answers

answered on Feb 2, 2016 at 01:24
I am suspected you have been trading with two celup companies in Viet Nam and in Malaysia. Why you don't asked the bank and the other company what they change their details and why they changed their details. A telephone call not is so expensive okay?

Maybee your wife have sex with the other company directors they can get back the money okay? you do some stupid things and didn't take the proper process for check the oringinal ness of the change of details and you must be screw loose.

Nahu Lu. You are careless. maybe the bank charge you with negligent.
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