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#2261395 - 10/21/21 06:30 PM Fraudulent Unemployment benefits ACH
PATSGirl74 Offline
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Joined: Oct 2021
Posts: 2
Recently learned that the FI received a few unemployment insurance deposits (via ACH) which were determined to be fraudulent. Action was taken in the manner below on the previous compliance officers recommendation. Compliance officer no longer here - I am being presented with this info now.

* Account frozen - access to funds removed (account holder has not made any attempt to access funds)
* SAR filed
* Funds were removed from member account and are being held in a general ledger account


??? Question1 - What should the next step be with the funds? I don't think they should remain in the G/L. Advice on returning funds to the issuing States
??? Question 2 - I do not think law enforcement was contacted - other than filing the SAR - should we contact now?

I feel like SO MUCH MORE should have been done.

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#2261397 - 10/21/21 06:48 PM Re: Fraudulent Unemployment benefits ACH PATSGirl74
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 77,287
Galveston, TX
The bank is not the police and has absolutely no right or power to seize funds. I would be in contact with my legal counsel at this point.
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#2261408 - 10/21/21 08:02 PM Re: Fraudulent Unemployment benefits ACH PATSGirl74
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,315
Pulling people out of the ditc...
if they were deemed to be fraudulent why were they not returned to the originator?

some links that may provide assistance

https://www.dol.gov/agencies/eta/unemployment-insurance-payment-accuracy/UIFraudReporting
https://www.justice.gov/coronavirus/national-unemployment-insurance-fraud-task-force
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Providing alternative truths since the invention of time

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#2261438 - 10/22/21 02:00 PM Re: Fraudulent Unemployment benefits ACH HappyGilmore
PATSGirl74 Offline
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Joined: Oct 2021
Posts: 2
Wish I knew - all took place before I came here. Former CO has since retired. Thanks for the reference docs Much appreciated

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