The French manufacturer of Ray-Ban glasses is suing JPMorgan for failing to stop suspicious transactions after cybercriminals looted $272 million from its New York account.

JPMorgan should have detected, reported and blocked suspicious payments that occurred in the last few months of 2019, Essilor said in a lawsuit filed in New York on Monday.

The criminals had recruited one of its employees in Thailand to make the fraudulent transactions, which resulted in regular monthly transfers jumping from $15 million to $100 million.


Coulda Caught That with!

The Problem

Suspicious Payments

Red flags raised from unusual pattern of transactions.

Compliance Failure

Money was deposited in shell companies at regional banks in high-risk jurisdictions

The Solution

Transaction AI

Transaction monitoring driven by deep learning anomaly detection.

Application AI

Vendor onboarding and compliance.

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