Learn More - Click Here!

New Reply Thread Options
#611649 - 09/11/06 03:42 PM Fraud and recourse
Anonymous
Unregistered

A customer wires money to another institution. After wire has been complete, the customer informs us that the transaction was fraudulent. He contacts the other bank to see if his money is still there and they inform him it's been sent overseas. Is there any recourse provisions for wiretransfers when possible fraud is involved? What should we or can we do for our customer?

Return to Top Reply Quote Quick Reply Quick Quote
#611650 - 09/12/06 02:04 AM Re: Fraud and recourse
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,649
Galveston, TX
Since wires are final basically at the time they are sent, there is really no recourse. Since it went overseas, your chances of assisting the customer is virtually nil. He needs to contact an attorney for advice, but even then there is little - or more likely - no hope. His claim is now against the receiver of the funds.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top Reply Quote Quick Reply Quick Quote
#611651 - 09/13/06 08:48 PM Re: Fraud and recourse
CantBeShocked Offline
Gold Star
Joined: Apr 2006
Posts: 260
MS
We have had this happen recently with customers involved in the new Ebay scams and there is no recourse other than notifying law enforcement.

Sorry.
_________________________
]

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale