07/07/2024
Suppose that you have a customer that is 100% the victim of a scam. The transactions clearly show P2P withdrawals going to random people, the customer is purchasing gift cards at dollar stores and grocery stores and admits to sending this money to "a friend." The activity gets worse and worse every time you look at it, but the transactions are all authorized debit card purchases. Therefore, it is the customer's own money being spent, and the customer refuses to believe they are speaking with a scammer.
Is this reason enough to close an account for suspicious activity? Is it a waste of resources for the account to be monitored?
06/30/2024
If we do a cash advance for a customer on a card that was issued by another financial institution and deposit the cash into the customer's account at our institution, are we allowed to pull the funds back out of the account if a dispute is filed that results in a chargeback on the cash advance transaction?
03/24/2024
We have a customer that is falling for the "publishers clearing house, you won a million dollars" scam and is wanting to send these people $15,000. We have tried to explain to her that it is not real, and she just gets agitated. We talked her out of getting a cashier's check but now the customer has written the scammer a personal check for $15,000. Do we as a bank have a right to place stop payment on this? Can or should we get the police involved? Is there anything to stop this lady from being taken advantage of?
11/05/2023
Most recently we have received requests from business customers asking to keep their accounts open after identifying fraud. This fraud is related to checks that have been intercepted, washed and negotiated. Due to convenience of keeping existing account open, our customers are requesting that we do not require them to close the compromised account.
We read a FinCEN FAQ regrarding keeping accounts opened after receiving "keep open" requests from law enforcement. We are wondering if other financial institutions follow procedures to "keep open" these compromised accounts based on a request from law enforcement and use that same procedure on customer requests, assuming the procedure helps reduce risks of any loss? What do you see as the pros and cons of keeping the account open when it is a customer request?
10/29/2023
If the source of funds for an ACH deposit appear tainted or fraudulently obtained, can the funds be legally held for return to the ODFI?
10/08/2023
When a cardholders card if flagged for fraud and they refuse to close it until a new card arrives can we deny any claims of fraud for that card after they were made aware of their card being compromises?
Ex: bank calls customer on July10 to tell him his card had attempted fraud and he insists he needs the card left open. Then on July 17 he had multiple transactions post to the card, and he now wants to dispute them. Had we closed the card none of this fraud would have happened.
10/01/2023
As to the NACHA Rulebook- What are the time frames on returning an unauthorized ACH debit?
09/24/2023
When a customer has a forged check drawn on their account and wants full credit for it, but does not want to complete or sign a Statement of Forgery, must we provide credit if the customer gave us notice within the 30-day deposit agreement timeframe?
06/25/2023
Can we require a police report to be filed in order to process an ATM Fraud claim where a person lost their wallet and a fraudster was able to withdraw funds from an ATM?
06/04/2023
If a bank receives a wire transfer request from a customer who we have a signed agreement with and which outlines security requirements for them, and the wire transfer turns out to be a BEC (Business Email Compromise), who is liable for the fraudulent "authorized" transfer?