We've had a string of folks attempting to cash fraudulent checks. We had an individual last week who was actually successful in cashing 2 checks at 2 different branches. The 3rd attempt (all in the same day – at different branches) was caught and the man was turned away. A police report has been started. Now, today, another guy attempted to cash a check on the same account that was obviously fraudulent.
Question: If the teller knows the "customer" has a fraudulent check, what is the best procedure to follow?
Can they push the silent alarm, or call police, or have someone out of sight call police?
We have had a large number of card compromises, MasterCard. Transactions conducted as credit/signature transactions. What recourse do we have with the Merchants who accepted these cards to begin with?
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).
We have a case of counterfeit US Postal money orders. Do I have to report that to FBI or Secret Service? If so, how? Do I just call them?
Our customer left her purse in a hotel room and evidently someone came in while she was gone. Two checks came through her account with our routing number and her account number, but everything else is fraudulent. I sent a letter to the bank of first deposit, but they deny paying because of the counterfeit law that I must return by midnight after the banking day following presentment. Since the check itself is counterfeit, can I return through FRB as a draft check? If not, do I have other recourses?
If a customer had someone make counterfeit checks with his account number on them and then that unauthorized person used these checks to purchase items from a store that processed the check electronically, what are the time frames for customer reporting and the bank returning the item as well as required paperwork? It appears we are crossing from checks to Reg E and I am not sure what applies where.
I work in bank fraud cases. We have a case management system in which we input all of our fraud cases (forgeries, counterfeit checks, unauthorized check card trans,etc...). We are trying to make a determination as to the difference between "recovery" and "loss avoidance" when it comes to bank fraud. Could you please help with a clear understanding on what determines in which category an item would fall?
We have a customer who deposited a counterfeit check and used some of the funds before the check was returned. She is overdrawn $1000. She is now saying that a certain check sequence has been forged. We looked at the items and they are not her signature. Let's say those are for $500. She wanted to fill out an affidavit of forgery. A co-worker will not give her one until she deposits the $500 that she owes us. I don't think that is correct. If she did't write the checks, she didn't write the checks. I do suspect that she is involved, but didn't know if we could refuse her an affidavit for the ones that appear to be forgeries.
We had an ATM robbed and lost more than 25K. I don't think we file a SAR on this, is this correct?
I process Visa and MasterCard chargebacks for several financial institutions and I am currently working on a case where the financial institution is not wanting to provide the cardholder provisional credit. The cardholder was making several auto fuel purchases in Florida and was called around the same time to verify transactions on her account. No one knows exactly what was said to verify the charges, but the cardholder agreed the gas charges were hers. Unknowingly to the cardholder there was actually counterfeit activity going on at gas stations in Massachusetts, so after her card was unblocked the fraud continued to happen. The financial institution has decided since the cardholder agreed that the original charges were valid and the card was unblocked for more counterfeit transactions to post, they will not be giving the cardholder credit because the fraud alert company tried to stop a further loss, but the cardholder insisted it wasn't fraud. Since I am the fraud processor, the cardholder keeps calling me because she wants this to be taken care of ASAP. She is out hundreds of dollars, but the financial institution is not budging on giving her credit because it's going to be a loss to them due to the card being counterfeit. Please give me some advice on this issue. I think people can make mistakes and I think when [Name of Fraud Protection Co Withheld] called to verify charges it was an oversight of the cardholder due to her making the same type purchases in her home town and we can not guarantee [Name of Fraud Protection Co Withheld] told her it was out of state charges. The financial institution knows there was counterfeiting going on that weekend because they had at least five accounts affected for the same merchants and state. Is the financial institution required to give the cardholder credit?