ING forced to pay Foot Locker compensation | RetailDetail

ING forced to pay Foot Locker compensation

ING forced to pay Foot Locker compensation

Dutch ING Bank will have to pay the Dutch and European Foot Locker branches 300,000 euro in damages. A court decided the fee after Foot Locker was scammed for 1.8 million euro in 2015.

Investigation launched too late

When Foot Locker received a bill from a “new” UPS account at the end of 2015, it assumed the courier service had changed its bank account. However, the account belonged to UPS Consultancy, a company founded at the end of 2014 as a company for “study guidance and education”. Seeing how Foot Locker thought it was the courier service, it made payments to the ING-registered account and the 25-year old owner quickly moved the funds abroad.


According to the judge, ING should have intervened much faster when vast amounts of money were transferred into an account that was only due to receive less than 1,000 euro each month. That was what the owner had told the bank. The account welcomed 1.8 million euro in January and February 2015, something ING should have investigated a lot sooner, especially considering how the money was always instantly transferred to another account.


Foot Locker also deemed too gullible

Even when ING launched an investigation into money laundering, Foot Locker was not informed about the decision. Only a month after suspicions of fraud appeared, the account was blocked, which was much too late according to the judge. However, he also feels ING cannot be blamed for the entire sum either, as Foot Locker could also have checked up on the new account as well and should have had a better failsafe against fraud.


The scammer was sentenced to 322 days in jail and is forced to pay back a part of the money, although it remains unclear where he hid the money.

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Are Chinese prisoners working for H&M and C&A?


British former journalist Peter Humphrey has accused C&A and H&M of using forced labour. He claims to have seen how Shanghai prisoners were forced to work for Western chains, something the retailers will now investigate.

Chanel acquires stake in online retailer Farfetch


French fashion label Chanel obtained a minority stake in British Farfetch. It wants to use the online retailer’s expertise to create more digital innovations for its own customers.

Monoprix wants to acquire web shop Sarenza


Store chain Monoprix, part of French Groupe Casino, entered negotiations to acquire online shoe seller Sarenza, one of France’s prime online brands.

Zalando expands collaboration with German retailers


Zalando has further expanded its collaboration with physical retailers in Germany. Shoe stores were already able to ship through Zalando and now clothes stores can too.

Kiabi opens largest Belgian store in Westland Shopping Center


French clothing chain Kiabi will open its fifth Belgian store in the Westland Shopping Center in Anderlecht. This will become its largest Belgian store to date, spread across 1,800 sqm.

H&M warns for difficult 2018


Swedish fashion group H&M warns that 2018 could be yet another difficult year for the company. It is working to improve online sales, but store turnover will most likely continue to drop.

Back to top