How to Fix Bank Fraud

How to Fix Bank Fraud
Hi! This is Summer on behalf of expertvillage.com now in this last clip we’re going to discuss probably the least common error that we see when you’re reconciling your checkbook and it doesn’t come out correct to what your bank statement shows and this would be fraudulent transactions. Although fraudulent transactions aren’t common they can happen, there’s a couple of different ways that a fraudulent transaction can post to your account. One probably the most common would be if somebody got a hold of your ATM or debit check card or maybe not even that they have the card but they somehow fraudulently got a hold of that check card number and they posted a transaction to your checking account that was something that you did not do. Now depending on your financial institution what their procedures are, what vendor actually supplied that check card whether it be Visa or Master card. There’s different ways to dispute fraudulent debit card transactions, in most cases the bank will be able to credit your account back if they researched your claim and discovered that it wasn’t something that you had done, they will most likely credit your account back for that fraudulent transaction. There’s a couple of steps you need to do if you are actually a victim of fraud and your bank or financial institution can definitely help you out with that and you want to notify them immediately if you do discover something on your statement that was not something you had done because in most cases you’re either going to shut down that debit card or shut down your account to prevent further fraud from happening. Now a second thing that may happen is if somebody got a hold of your checkbook or have stolen a box of check from you or somehow got a hold of checks or your checking account number and have written fraudulent checks off of your account. Again if this happens, if you see a check clearing on your statement that you have no record of in your register and no record of in your carbon copies you want to immediately contact your bank, let them know that a check cleared your account they can provide you with a copy of that check showing who it was payable to, they can compare the signature to your signature which if it wasn’t yours it will clearly show a discrepancy and there’s procedures again for disputing those charges. Again fraud is a very scary thing, if you do notice something on your statement this is where online banking again would come in handy, if you do use online banking if you see a transaction posting to your account you want to immediately contact your bank and pretty much any financial institution is going to have procedures in place to help protect you from fraud whether it be closing down your account or just shutting down your debit card, they’ll be able to help you and most likely credit you back into your account for those fraudulent transactions.