Citibank sued for alleged failure to flag suspicious $20M transactions linked to romance scam.
What to Know:
- Texas man sues Citibank over $20 million romance scam.
- Scam involved 43 bank transfers across multiple accounts.
- No major crypto assets directly impacted in scam.
A Texas resident filed a lawsuit against Citibank, alleging negligence leading to the loss of $20 million in a romance scam involving suspicious transactions from January to April 2023.
This case highlights the challenges financial institutions face in detecting sophisticated scams, raising questions about banks’ anti-fraud measures.
$20 Million Lost: Texas Man Sues Citibank
“Citibank turned ‘a blind eye to its statutory duties and obligations’ when it allowed [the victim] to deposit millions of dollars to scammers who have accounts at the bank.” — Plaintiff’s legal filing, June 2025: Cointelegraph
Citibank’s $4M in Alleged Suspicious Transactions
Romance Scam Losses Reach $9.9 Billion in 2024
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