Bank Fraud

[ForeverAutumn]

Some deadbeat rat bastard lifted my debit card info over the holidays. I have a very strong suspicion about where and when it happened and have reported it to my bank’s security dept. What gets me is that all of my debit card transactions in the last month have been in stores where I’ve shopped before…and all brand name chains.

What impressed me about this ordeal is how well the bank responded. I don’t know how, but they flagged suspicious activity on my bank card and froze the card the same day of the transactions…which occurred on the Saturday between Xmas and New Years. There were three transactions on my account. A debit, a deposit (empty envelope is my guess), and another debit which took the account up to it’s daily maximum (thank goodness for daily maximums!).

When I tried to withdraw money on Sunday morning I couldn’t. When I called the bank to inquire, they told me what had happened. I went into my branch the next day, signed an affidavit, and they issued a new bank card to me.

Now I just have to wait for the bank to complete its investigation and review the security tapes. Once they’re satisfied that it wasn’t me making the withdrawals, they’ll reimburse me the $500 bucks that the rat bastard got away with. I hope that they catch whoever did this.

My advice to anyone who shops with their debit card is to make sure that you have a low maximum withdrawal limit on your bank account and check your statements each month for any unusual activity. I am very careful where I use my cards and I watch people to make sure that my card is never swiped twice. Yet somehow, somewhere, I missed this one.


Edit: I just checked my bank account and the $500 was credited back to my account this morning. Another plus for the bank. It only took them three business days to sort this all out and restore my account for me. I was originally told that it could take up to two months! I still hope they catch whoever did this.

[kexodusc]

Wow, FA, sorry to hear about all your troubles.

Is this the story you're going to give to your husband to cover the $500 you blew on video games this week? Better come up with something better than that :D

In all seriousness, I had my identity stolen a few years back, credit cards abused fairly quickly. I must say Mastercard really pulled through for me though and I wasn't out of pocket any money, just a bunch of paper work and replacing all my cards.

I don't even know how someone could steal your debit card info and turn it into something useful? But....wow....Hope they catch the bastard:incazzato:

[topspeed]

I feel your pain, FA. Last year, I started a very similar thread after some *#&@ stole our mail and went hog wild. What really sucked was that while we first noticed it on the Visa, because all of the mail was stolen, we ended up replacing every single card we have just to be safe. Gas card, debit card, etc. We put a tracking system on our credit scores as well to make sure nothing else weird transpired.

As with you, all of the card companies were very good about righting the ship. That said, what I would give for 5 minutes in a room with that rat %#$*.

[GMichael]

Sorry to hear that you had to get some extra stress. Glad it's getting woeked out.


I got a call from my CC company last spring. Someone had been charging thousands of $$ worth of stuff in a B&M store in Tennessee. They asked me if it was legitimate. All I had to do was say, "No, I haven't been there in years." They took care of everything. I never got a bill. They sent me new cards and everything was good.

[ForeverAutumn]

Wow, FA, sorry to hear about all your troubles.

Is this the story you're going to give to your husband to cover the $500 you blew on video games this week? Better come up with something better than that :D

Hehehe. Hey that might've worked. Maybe I shouldn't have told him that the money was back in the account.


In all seriousness, I had my identity stolen a few years back, credit cards abused fairly quickly. I must say Mastercard really pulled through for me though and I wasn't out of pocket any money, just a bunch of paper work and replacing all my cards.

I don't even know how someone could steal your debit card info and turn it into something useful? But....wow....Hope they catch the bastard:incazzato:

Wow, that would suck. At least this was just the bank card. But I've been thinking about having new credit cards issued just to shake things up a little. I did lower all of my credit card limits last year and asked the card companies not to raise my limits without confirming with me first. They kept raising my limits without asking me which is all fine and dandy until someone steals your card.

Apparenly, there are machines where they can swipe your card and it stores all of the information on the magnetic strip and the machine where you enter your code also stores it. Then they match everything up and print a blank card with your number and info on it. Very sneaky are these spineless rat bastards.

[Groundbeef]

At least this was just the bank card. But I've been thinking about having new credit cards issued just to shake things up a little.

Apparenly, there are machines where they can swipe your card and it stores all of the information on the magnetic strip and the machine where you enter your code also stores it. Then they match everything up and print a blank card with your number and info on it. Very sneaky are these spineless rat bastards.

Unfortunatly, the bank card is the WORST card to have stolen. Banks have much less incentive to help customers that have debit cards stolen than with Credit Cards. Credit Cards are regulated much more, but that is beginning to change.

The problem with a stolen debit card is that the money is removed from your checking account real time. So if you are not aware, the money can be taken out, and you start bouncing checks. Thats when it gets very expensive, and difficult to track down every check that has been sent out.

You are lucky the bank returned the money in 3 days. If it had been a Credit Card, the money would have been flagged, and the credit equaling the amount in dispute would have been put back on your account within minutes.

There are advantages to using a Credit Card.

As a precaution, I would replace ALL cards in your possesion. You may also make sure your bank locks you account (ask for a password other than last 4 of your Social Security #). In this way, the thief can't keep opening new accounts under your name. Its called "PreTexting" and not all that difficult.

Good Luck!

[ForeverAutumn]

You may also make sure your bank locks you account (ask for a password other than last 4 of your Social Security #). In this way, the thief can't keep opening new accounts under your name. Its called "PreTexting" and not all that difficult.

Good Luck!

I don't understand this suggestion. What do I need the password for? BTY, it's illegal in Canada for anyone to use your Social Insurance Number as a password or means to identify you (other than the Gov't of course).

[Groundbeef]

I don't understand this suggestion. What do I need the password for? BTY, it's illegal in Canada for anyone to use your Social Insurance Number as a password or means to identify you (other than the Gov't of course).

I don't know anything about Canada law. In the US, a lot of banks use the last 4 digits of your Social Security # as a default "password" when calling in for info etc. I'm suggesting you ask your bank to REQUIRE a password on your account when calls are made to the bank referencing YOUR account.

Think about it. Someone lifted your card #. They have your 1. Bank Name. 2. Your Name. 3. Your card #.

4. Its not too difficult too look a name up on google, phone book, whatever. Now they have your basic info. Call the bank, report card stolen, and request new card. While on phone also "change" your address. After all, who is on the other end anyway? With a simple password lock on your account, you can help prevent this practice called "pretexting". Look it up on google if you are still unsure.


Trust me, it happens ALL the time.

[ForeverAutumn]

Thanks for the clarification. My bank took me through a very rigourous security check, which included a password, before releasing any information to me over phone regarding my account. I'm comfortable that no-one else can access information over the phone. Although it wouldn't hurt for me to update my password. Thanks for the suggestion.

[audio_dude]

Never had this happen to me, but I'm mostly a cash man.

I have a $100 debit limit at a store, and a $20 per day withdrawal limit ;) (hasn't changed since my parents opened the account for me when I was 4 or 5. hah.

If I know I'm going to buy something, I go to the bank, get the money from a teller, and go buy it. The debit card is convenient for buying small things and such, but yes, I still like my cash :)


I was thinking about getting one of those prepaid credit cards...but it is basically a debit card that costs $7.50 a month... I can use paypal e-checks for online shopping.