All it has achieved so far is that the recipient cannot spend the money.
An Australian businessman by chance Transferred more than half a million dollars into the wrong bank account, Unable to recover his money, he was forced to take legal action.
Digby Beaumont, The investment manager of Palisade Real Assets sent $560,000 (191 million forints) to the wrong account in June 2022. He bought half a million dollars worth of units and manually filled in the bank details, but got the account number wrong. This all came to light when he had redeemed $560,000 worth of investment units by then, but the money had been deposited into another account.
The man filled out the data change form and reported the error to the receiving bank. However, the Commonwealth Bank was unable to contact the recipient of the $560,000 because the amount had already been transferred to another account at the bank.
Failing to get anything else, the man took legal action to get the money back: he secured an order from the New South Wales Supreme Court preventing the anonymous recipient of the money from withdrawing the money to spend it. According to the decision, funds can only be withdrawn from the account if the amount held exceeds the value transferred by mistake.
In addition to freezing the funds, the lawyers were also given powers to determine the account holder, but the case is not yet closed.
We previously wrote about an Australian pensioner who also transferred 15.5 million HUF into the wrong account. Although he quickly told the bank, the money had already been deposited, and the person himself refused to return a penny.
(Featured image: Getty Images)
