Bank fraud

[ABIGAIL83]

Jurisdiction

Tennessee

I have a personal bank account . No one is on it but me. I have been down with medical problems so I did not go through every bank statement. So when I noticed on the last one in June 2017. I called and asked who this was taking out of my account auto draft. Come to find out it was insurance agency. And I do not have that insurance. I immediately filed with the ftc.gov and also called the insurance . And also filed a police report. They said it was taken off but would not give any other info. My bank asked me if I knew the person . Well no ma'am I do not . I am only one on the account. So I went bk through every statementand it started in nov. 2016. I was shocked at the overdraft fees and the amounts that were run everyday till the money was in there. They will not return my calls and they said they are only going 2months . What else do I do in this case

 

[mightymoose]

You've made a police report for fraud/identity theft. If they have identified a suspect, and if that suspect is found guilty, you can sue that suspect for your losses.

You have a responsibility to manage your finances. Had you done so you would have ended this before incurring any losses the bank would not cover. Now you have to do it the hard way.

Stay in touch with police regarding the investigation. You've already been given a name, so you know they have identified someone likely responsible.

 

[adjusterjack]

What else do I do in this case

You go after the person responsible.

The bank has no further obligation to you than the 2 months covered by your account holder's agreement.

 

[zddoodah]

when I noticed on the last one in June 2017. I called and asked who this was taking out of my account auto draft. Come to find out it was insurance agency. And I do not have that insurance. I immediately filed with the ftc.gov and also called the insurance .

So...wait a minute. In June 2017 (i.e., a month ago), you discovered that, since November 2016, some insurance company or agency was taking money from your bank account. Correct? How much was taken out? What did you file with "ftc.gov" and why? What happened when you "called the insurance"?

They said it was taken off but would not give any other info.

Who are "they"? The bank? The insurance? The FTC? The police? And what "was taken off" of what?

My bank asked me if I knew the person .

What person?

They will not return my calls and they said they are only going 2months .

Again, who are "they"? What does "they are only going 2months" mean?

What else do I do in this case

I'm guessing that your bank has informed you that, because you failed to dispute the transactions in the time provided in your account agreement, it will only return to you the last two months' payments. Correct? If so, that's all the bank is obligated to do. Beyond that, your recourse is likely with the insurance company/agency who took the money out. As noted above, you told us that you called about that but didn't tell us what happened as a result, so it's difficult to suggest further steps.

 

[Michael Wechsler]

To explain, the bank is likely claiming they have no idea whether a charge is actually authorized by you if another party presents proper documentation. Most financial institutions have protection in their agreements which state that a depositor must provide reasonable notice of fraud and that the limit of their responsibility will extend for a period of time.

I can appreciate where you're coming from - you assume no one is siphoning money out of your account. Most people act this way. And once you notice it you are alarmed. But if you didn't notify the bank that you didn't authorize the document that a reasonable party would accept as valid, how can you expect them to bear the loss? If it turns out that the bank didn't follow proper procedures, was negligent, or should have realized that the debits to your account were not authorized then you might be able to hold the bank responsible. Absent that, it's your battle to fight with the insurance company and whomever may be responsible. Good luck.