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Money Order Stolen, Forged and Cashed

A money order was written to me, then stolen. Thieves then wrote their name in and cashed it at their bank. A stop payment was made a day before it was cashed. Does the bank that cashed it bear any responsibility?

If the stop payment was timely, the bank on which the money order was drawn should have refused payment and charged the money order back to the bank that cashed it or accepted it for deposit.

Published on 2/06/09