After a series of snafus this past month, CIMB is now facing legal implications from its customers over the bank’s action in freezing their accounts.
Nine individuals and three companies are suing CIMB Bank Berhad and CIMB Islamic Bank Berhad after their current and saving bank accounts were frozen last January on the allegation that there were proceeds from illicit or suspicious activities.
The customers said that they were informed that the money frozen was part of the floating transaction pending clearance of the transaction to the bank accounts and were told that the online banking system was under technical maintenance.
In filing the case, the customers claimed they were not involved or conducting any illicit transactions and that the bank’s action was unlawful and had caused much inconvenience and loss to them.
CIMB came under heat when its banking system had unintentionally frozen customers’ accounts last month causing much grief, the news went viral when those needing to make transactions were caught off guard started complaining on social media.