News Saudi company blames British bank Natwest over $5 million loss in BEC scam

A Saudi engineering business that claims it was tricked into sending $5 million to a Natwest bank account at a branch in south London is suing the British lender in the High Court.

Tecnimont Arabia, which is a subsidiary of Italy’s Maire Tecnimont, is bringing legal action against the division of Royal Bank of Scotland Group after it claims it fell victim to an “authorised push payment” scam.

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Saudi company blames British bank Natwest over $5 million loss in BEC scam