When filing a check-fraud SAR, do we have to report all names on the checks, if we are not sure if they are victims or possible suspects, in the subject information section?
Customer filed a 'fraud' dispute for an ATM withdrawal that was processed as Chip and PIN and they have always had possession of their card. This is the 3rd 'fraud' dispute filed this year for ATM withdrawals where the card was always in their possession (previous disputes were on an non EMV card). They have also filed 4 other 'fraud' disputes this year for various
With new 'fraud' dispute being for a transaction that was processed as Chip and PIN and the customer always had possession of their card, do we have any grounds to deny the dispute?
When an account takeover is involved, does the bank file a Suspicious Activity Report only on the amount successfully obtained by the fraudster or does the bank report on the full account balance available at the time of the account takeover?
John has $5,000 in his account. John is a victim of an account takeover and has $2,500 removed from his account before the account is closed. What is the suspicious total involved?
In regards to Reg E, we know that we cannot make a customer fill out a police report to dispute a charge to receive provisional credit, however during the course of the investigation if there is true counterfeit card fraud can we then ask the customer to file the report in order for the bank to receive restitution in the event the fraudster is caught?
Is there a better way to ensure we are opening accounts that will not be a future liability?
I’m satisfied with our current system. Why should I switch the way we verify customers?
We had an insurance check deposited in April made payable to two account holders AND the title company. In May, the Insurance company bank asked via fax for a return of the funds due to improper endorsement. We requested that the bank return the check so that we could release funds to them through our clearing company but they are insisting that they can't and want us to send a check directly to them. It has been a few months and we are in a deadlock while the member's funds remain on hold.
Is there a succinct guide as to the return time frames from a client's perspective for the various types of check fraud against them?
We have a few customers that have had fraudulent checks written against their accounts. This started in January and it is now late July. Are we required to give immediate credit for those checks?
If our customer's computer is compromised due to their lack of security, and external transfers are fraudulently made from the customer's account to another financial institution, according to our customer, does Regulation E apply to these transactions? We contacted the RDFI and requested the funds be returned using R06, but the funds were already gone.