I have a corporate check that was counterfeited. There are two maker's signatures -- one of the signers is no longer with the company. Can any authorized signer complete the Affidavit of Forgery? It has always been my understand that the person whose signature was forged must complete the Affidavit.
We submitted a breach of warranty claim regarding a forged endorsement on a check for $169,338.01. We submitted an indemnified copy of the check along with the signed and notarized affidavit of forgery. We are located in New Jersey. How long does the depository bank have to respond? They say that they have 90 days.
We seem to be having an issue with forged endorsement affidavits. When attempting to send a request to the bank of first deposit, the bank will deny the claim if the affidavit is over 30 days old. The one bank who does it most often has told us that is the law but can't provide any documentation to support. Are forgery affidavits expired after 30 days or is this the individual bank's discretion?
I sent a Fraud/Altered Check affidavit to the financial institution that processed a counterfeit check. The bank received it on 5/9/11. I requested an answer within 30 days. I still haven't heard anything. I left multiple messages to the person who is handling this and no one is getting back with me. What other recourses do financial institutions have when no one is giving you an answer on Fraud claims? Is there a time frame to respond to a claim? (I'm in Delaware).
If a bank's outside automated teller posts a deposit that includes stolen checks that are not made payable to the account holder's name, and the checks clear, thus laundered through the automated teller, for the benefit of the account holder, and the bank never monitors the checks, who is responsible for restitution of the funds stolen?
Is there a date of when we should receive an affidavit? I have an altered payee case where the affidavit was signed in November, 2009, and I did not receive the request until February, 2010. Is there a thirty day rule? Also what is the timeframe for an altered payee item to be returned? Is it twenty-four hours or does it fall under a warranty of three years?
We have an organization that had checks stolen. Some of the checks were brought into our bank and cashed at our teller window by the person forging the endorsement. The signers on the account are bringing us an affidavit of forgery. Where does the bank stand on the checks we cashed? I assume we are out and would need to prosecute the forger.
If our customer wrote a check off of his account to one of his customers, but his customer (payee) did not receive the check and the check cleared my customer's account, what are my options to recover the funds? Should I get the payee to complete an affidavit of forgery? Can this item be returned through the Fed or will I have to deal directly with the bank of first deposit?
Client "A" signs an affidavit stating his partner client "B" has forged checks to himself and deposited them into his own private account. We (the bank) close all of "B"'s accounts and give "A" the money. There is no court order to release the funds, we acted only on "A"'s claim. Have we broken any major rules/regulations?
I came across several checks while completing a forensic examination which had a blank or restrictive endorsement followed by a Prior Endorsement Guarantee (PEG) stamp. These checks were part of a forged endorsement of the true payee. They were deposited at the fraud perpetrator's depositary bank. Does the PEG stamp constitute a second endorsement? What liability, if any, exists between the depositary and the true payee for the use of this stamp on items containing forged endorsements?