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The Water Cooler
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Card fraud
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<blockquote data-quote="CapnD" data-source="post: 3529283" data-attributes="member: 46793"><p>Let me share something that is not "card fraud" but it is fraud that is easily done with an activity many people allow on their bank accounts.</p><p></p><p>This is a true story.</p><p></p><p>You provide your checking account number for an automatic payment withdrawal, or so that money can be regularly be deposited, or in my case, so that an attorney could do some trust work for me.</p><p></p><p>Office staff person of law firm acquires a credit card in companies name but attorney is not aware of card. Personal purchases are made on the credit card and office person uses my bank account number to pay credit card online. Money leaves my account without my authorization to pay bill. Tracing it back was incredibly hard because nobody will provide you any information, bank's not that interested in pursuing because it did not exceed $5,000 (but over $3,000), but did allow me to file a claim. Using technology I was able to trace it back to an IP address and get enough information to lay blame appropriately. As a result of my evidence, attorney investigated and found the culprit (he was very surprised). Charges were filed. I was the third person in which she had used a bank account number to pay card. I was the first person to be able to tie it back and figure out what was going on...</p><p></p><p>All to say, when you give your bank account information to someone, you are trusting they will use it as agreed upon. Unscrupulous employees may use it to their advantage. Even if the sole purpose is for deposits, it can be used to withdraw money, or in my case to pay a bill!</p></blockquote><p></p>
[QUOTE="CapnD, post: 3529283, member: 46793"] Let me share something that is not "card fraud" but it is fraud that is easily done with an activity many people allow on their bank accounts. This is a true story. You provide your checking account number for an automatic payment withdrawal, or so that money can be regularly be deposited, or in my case, so that an attorney could do some trust work for me. Office staff person of law firm acquires a credit card in companies name but attorney is not aware of card. Personal purchases are made on the credit card and office person uses my bank account number to pay credit card online. Money leaves my account without my authorization to pay bill. Tracing it back was incredibly hard because nobody will provide you any information, bank's not that interested in pursuing because it did not exceed $5,000 (but over $3,000), but did allow me to file a claim. Using technology I was able to trace it back to an IP address and get enough information to lay blame appropriately. As a result of my evidence, attorney investigated and found the culprit (he was very surprised). Charges were filed. I was the third person in which she had used a bank account number to pay card. I was the first person to be able to tie it back and figure out what was going on... All to say, when you give your bank account information to someone, you are trusting they will use it as agreed upon. Unscrupulous employees may use it to their advantage. Even if the sole purpose is for deposits, it can be used to withdraw money, or in my case to pay a bill! [/QUOTE]
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