Two scenarios and questions.
1. We had a customer sell stolen goods (a Side by Side ATV). The customer that bought the ATV, actually received the merchandise, but when he went to title it, the tax assessor checked with NCIC (I think that's what they checked). He was informed that this ATV had been stolen in Georgia. He contacted our bank, and the majority of the money is still in our customer's account. We immediately placed a hold on the account. But what are our legal responsibility in this matter?
2. The other scenario is, we sent a wire that was legitimate as far as the bank is concerned. Our customer had received an email with wiring instructions that had been hacked. Our bank did everything right as far as verification to send the wire. Our customer checked with the company who never received the wire and that's when he realized the money had been wire fraudulently. We requested a return of the money and gave the receiving bank a hold harmless letter. Their response was, "It may take a month or two before it can we returned after we do our investigation".
My question sort of fits both scenarios. "What investigation is the fraud department to do that would take a month or two?"