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.
We have an account that has been closed for several years due to the account being compromised. We recently have had some checks come through our cash letter and want to know the best reason to provide for returning them. I don't want to return them as forgeries because I do not have an affidavit signed by the customer. Is there a reason of "account closed at customer's request due to forgery"? Our processor says they can not use this reason.
Can you open a new account under a Limited Partnership with 2 DBAs under it?
A person applies for a credit card at an issuing bank and the application is declined due to a fraud flag (Iocation IP address, prior fraud address, prior fraud phone number, etc) and the credit line that would have been assigned to the credit card account would have been $5,100. Would a SAR need to be written in this case due to the fact that there is a possible suspect with a possible usage of over $5,000?
A person applies for a credit card and it turns out to be a fraudulent application with a credit line of $5,100. No transactions take place on the card and the account is closed. Would a SAR need to be written in this case due to the fact that there is a possible suspect with a possible usage of over $5,000?
Friendly fraud--We have a daughter that hands her mom the phone and allows her to use an app to send money via jpay--the app already had the daughter's info and it was sent, then the mom sent it with her own info--daughter is saying she didn't authorize this particular transaction. Is the bank liable?
Are commercial customers covered under Regulation E against fraudulent charges done using a debit card on a business checking account?
Our member states he made a withdrawal from an ATM machine and as he was about to get into his car he was robbed. Does Reg E cover the members claim?
I have a customer that pays his utility bill by direct debit. He has informed us that he just noticed on his banking (checking) statement that 2 ACH debits are debited from his account monthly by my company, and have been for the past 7 years. He never noticed the second debit because he keeps a large balance in his checking account. Upon review we found that the second monthly debit was a direct debit charge from a different consumer. He claims this is fraud and the debits were unauthorized for 7 years. They want to recover all of the unauthorized funds stating there is no time limit and we should follow the States statue limitations of seven years. Is this correct? I can't find any time limits in any of the NACHA rules.