Archive for the ‘Financial Scams & Frauds’ Category

Lost Checks or Credit Cards

If you lose your checkbook and a check is forged in your name, you are generally not liable; it is the responsibility of the bank to know the depositor. Of course, it is in your own best interest to report the loss immediately to your bank. There are some special circumstances under which you might […]

More »

The Case of the Stolen EFT Card

A bank customer standing in line one evening to buy some theater tickets, discovered, when he got to the window, that his wallet was missing. In the jostling crowd, a professional pickpocket, Jimmy the Lift, had deftly removed the wallet, which contained several credit cards and a bank electronic fund transfer (EFT) card and personal […]

More »

An Automatic Teller Scam

The proliferation of automatic teller machines (ATM’s) prompted criminals to find ways to put them to their own use. One New York City bank, for example, placed pairs of ATM’s in the lobbies of its branches, along with a telephone linked to a clerk who answered questions about the new machines. A depositor wanting to […]

More »