The eyewear company that owns Ray-Ban and LensCrafters has sued JPMorgan, accusing it of failing to notice that thieves had transferred more than $272m out of one of its bank accounts in 2019.

A unit of EssilorLuxottica, the world’s largest eyewear company, accused the bank of failing to spot a “highly suspicious pattern of fraudulent transactions”, allowing thieves to blow through a daily withdrawal limit of $10m at least nine times over several months.