James Mathelier is out thousands of dollars after falling prey to a costly phone scam. Now, the Toronto man is bemoaning that his bank didn't do enough to protect him, and is now even charging interest on the funds he lost from his line of credit.
The caller then asked for a verification code which was sent to Mathelier's phone, supposedly to confirm his identity. Radio-Canada asked BMO that same question, but the bank refused to comment, saying it is committed to the confidentiality of its clients. "But it seems like they're profiting off the client's victimization rather than taking that into account. They can write that interest off. There's nothing to say that that interest has to be paid by the client, or indeed has to be charged at all," she said.The Bank of Montreal did not explain why it is continuing to charge interest on the stolen funds, after recognizing they part of a scam.