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Look: EssilorLuxottica, the world’s largest eyewear company, isn’t gonna sugarcoat this: It f’ed up big time keeping an eye on the employees at its Thai factory. It definitely shouldn’t have been possible for however many of them were involved to make 243 payments totaling $272 million without someone in compliance or corporate accounts payable or wherever noticing. Sua culpa.

Still—and speaking of suing—it would be nice if a company could rely on its bank to give it a bit of a head’s up when ten times as much money as usual starts pouring out of an account to places it hasn’t gone before. Just, you know, saying, in lawsuit form.

A unit of EssilorLuxottica SA, the world’s largest eyewear company, accused [JPMorgan Chase] of failing to spot a “highly suspicious pattern of fraudulent transactions,” allowing thieves to blow through a daily withdrawal limit of $10 million at least nine times over several months…. For instance, the volume of transactions and dollars moving out of the New York account suddenly skyrocketed to more than $140 million from about $15 million a month. The individual transactions were all done in round numbers, without cents, and authorizations took less than a minute instead of hours, the lawsuit said.

The money was sent to shell companies with names such as Guangzhou Wendy Hair Products or Citgo Oil Trading LLC, signaling they weren’t in the eye-care business, according to the lawsuit.

Ray-Ban Maker Sues JPMorgan, Accusing It of Failing to Catch $272 Million Theft [WSJ]

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