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North Carolina bank, First Bank, is facing allegations of negligence after scammers allegedly stole hundreds of thousands of dollars from a real estate company's accounts. A lawsuit filed against the bank claims that it gave cyber criminals access to Emerald City Associates' accounts, allowing them to make four wire transfers totaling $560,900 in June 2024.
According to the suit, First Bank was duped by emails claiming that Emerald City Associates had hired a new accounting firm and needed urgent access to its accounts. Despite warning signs, the bank granted the scammers access, leading to the theft of funds from several rental properties owned by ECA in Greenville and Raleigh.
The lawsuit alleges that First Bank failed to follow its own security protocols, despite having guidelines on its website to protect consumers from scams. Emerald City Associates is seeking the return of the stolen funds, which the bank has refused to do so far. WITN has reached out to First Bank for comment but has not received a response.
