I have a customer that supplied all of her debit card information to a email representing themselves as Paypal. As a result, $8000 was removed from the account in a thirty day period at European ATM machines with a counterfeit card. This customer did not open her statement for the previous month where she could have seen the removal of the first $2000. If she had done this we could have saved the remaining $6000 from being withdrawn. I have read previous answers to similar questions, but can't decide if I can invoke OSC 205.2 on this scenario, or if we will need to charge off this amount even though the customer provided everything the fraudster needed and did not use the statement to catch the first withdrawals. Can you provide a clear interpretation of can I or can I not deny this claim?
What is a positive pay system?
I recently saw television news cast that mentioned a bank had experienced large losses due to counterfeit checks. I know what a forged or altered check is, but what is a "counterfeit" check?
I have heard that there is available a money counter that can detect counterfeit bills or some type of ink pen that can be used to determine is the bill is fake. Do you have any information regarding these items?