In Reg E, our customer disputes ATM withdrawals from August 2021 until present, July 2022. She 'claims' someone must have taken her card out of her wallet and replaced it. We are working with the police to get video footage at the ATMs for over 109 transactions. As I understand Reg E, we begin with the first unauthorized withdrawal and count 60 days from date of statement for that charge. The remaining unauthorized transactions that occurred after the 60 days are not covered under Reg E. Is that correct?
Someone opened an account in a small Louisana bank on June 3, with a bill payment check drawn on Chase bank. We placed a new account hold on it. The hold expired and funds became available but there were no transactions in the account. June 13, we receive two wires in this account from Chase Bank - memo says "for my wife Kelly Laura" and the wire came to our customer's account (not Kelly Laura). When we questioned our customer she stated "it’s for her daughter from the daughters finance that lives in Chicago and it’s for moving expenses." We asked her to come in with her daughter but she says she couldn't because the daughter is not here. We believe our customer is being scammed or something. Multiple attempts to get someone with Chase to help finally happened on June 24 when someone from Chase in our area helped us. They also feel there is something suspicious about their account holder and opened an investigation there. Meanwhile we are holding the money. Chase recalled one of the wires totaling $3,500 and we returned it. As of today were still holding $8,897. How long can we hold this, how long can we investigate, or what other actions should we be taking to protect the bank and the customer?
We are trying to determine if there is any best practices for fraud loss collections. Should we file a police report to try and receive restitution on a fraud loss ($646) versus use a collection agency? This is a fraud loss related to bad checks deposited into a checking account that were charged back.
Can you place a hold on a Cashier's Check that is under $5,000 if there are concerns about the validity of the item?
We have a customer that we are certain is involved in a scam, which involves her sending money to these perpetrators. Does the bank have the authority to put a hold on her account for suspicious transactions with questionable people?
I am new to my role and I am needing some guidance on a situation with a customer and situations with future customers. If we are noticing customers are making several transactions day after day with several with a week of $500 or $1,000 for Apple gift cards and we believe that our customer is involved in a scam because this activity is not normal for them.
Do we have an obligation and/or right to report this activity and shut down the customers cards and/or account?
Our business customer (#1) wrote a check to another business (#2) for services rendered. #2 claims that they never received the funds and #1 filed an affidavit of forged endorsement with us. The claim was sent to a large nationwide bank (LNB) where the check was negotiated, in a town located in the same state as #2. The account was opened at LNB using the same established address as #2. We don't know when or if this particular check was part of opening funds.
LNB denied our claim due to the established account using #2's business identity. Evidence from LNB indicates the account was overdrawn at some point and then closed by LNB. Do we have the right to then chargeback the funds to our Customer #1; or is LNB required to refund the funds to our bank, based on the claim of forged endorsement by our customer #1?
I have a commercial customer who had her signature forged on payroll checks in her January statement. Can these items be sent to the BOFD for collection now that we are in early May?
What are ways we can mitigate check fraud risk at proprietary ATMs that take deposits?
I received a hold harmless letter along with and Affidavit of Unauthorized Signature. It seems one of our customer's deposited a counterfeit check. What action should I take as an operations standpoint?