Liem sues Fubon Bank, Chong Hing Bank, and DBS Bank for not conducting basic KYC and AML checks. Attorneys argue these checks would have raised alerts about potential scams, preventing accounts from being opened for fraudulent activities.

Liem was approached by scammers in June 2023, promising lucrative crypto-investment returns. Trusting these promises, he transferred funds over several months to accounts at the accused banks, which were later moved to third-party accounts.

The lawsuit cites the US Bank Secrecy Act, stating the banks should have reported suspicious transactions. Liem seeks a jury trial, demanding damages of no less than 3 million USD, emphasizing the banks were likely aware of ongoing fraudulent activities.