Tuesday, June 03, 2025 | 04:31 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

JPMorgan to face lawsuit by unit of Ray-Ban maker over cyber theft

JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions

JPMorgan, Morgan Stanley put India realty investments on hold
premium

Chris Dolmetsch and Bob Van Voris | Bloomberg
JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions as cybercriminals drained $272 million from its New York bank account.
 
Essilor Manufacturing (Thailand) Co., which operates a plant in Thailand for EssilorLuxottica SA, sued the bank in April in federal court in New York, claiming JPMorgan was aware of a pattern of fraudulent transactions that led to the theft and failed to notify the company, despite red flags including a jump in monthly dollar volume and the movement of money to shell