Reinsurer Sues Bank Over $4.5 Million Fraudulent Wire Transfer




ORLANDO, Fla. — A foreign reinsurer has sued Truist Bank in Florida federal court, accusing it of negligently allowing a $4.5 million fraudulent wire transfer to go through by failing to follow security protocols.

In a March 29 amended complaint filed in the U.S. District Court for the Middle District of Florida, Barents Reinsurance S.A. contends that the bank should have realized that the number of the account to which the money was sent did not match the name of the intended recipient, reinsurance broker Arthur J. Gallagher & Co.

According to the complaint, Barents, a reinsurer incorporated in Luxembourg, …

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  • Cozen O'Connor





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