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Fraudulent Statements

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We had a customer come in to make a withdrawal on a savings account. He stated the balance of the account was about $6,000, but our records show he has had an average balance of only $1,300. Later in the day he was able to produce what he claims to be three 2007 statements mailed to him from us. These statements do not look anything like what we produce and had many errors with interest, balances, dates, statement periods and logos. It also does not match the activity we show for 2007 and appears to us to be badly produced fraudulent statements. We are currently pulling all statements since he opened the account to see if we can find any errors in the activity. Since 12/07 his account has been on our do not mail list because of a wrong address. Should we have him sign a statement regarding the statements he produced for us stating they were received in the mail for future reference if they are proved to be fraudulent? I am following up on the research of the account to verify, but it appears that he is attempting to commit fraud since his produced statements do not match our statements for the same period.

Once you have completed your transaction research and predictably find nothing, you should inform your customer that the statements he has produced were not issued by the bank and provide statements for the period in question from your records. Put your response in writing and include a statement that specifically denies his oral claim. I predict the problem will disappear. If his dispute involves a difference of $5,000 or more, I'd consider filing a SAR for bank fraud.

First published on 11/24/08

First published on 11/24/2008

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