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Home >> My Bank Said ...
Scammed by Bank?
I am posting this for my friend who doesn't speak English. I believe she has been severely scammed.
This is how she said it to me: "My banker changed my mailing address to our mutual friend's address without informing me. As the result of it, my account of almost $6000 was emptied out. By the time I discovered it, the bank said that since I didn't use my home address when I opened my account, they were not responsible for the loss of my money. I have no doubt that the banker and the friend are behind this scam, because the card and password were mailed to my friend's address. Please tell me what I should do because the Texas police refused to help me, and told me that all video images of unauthorized usages were erased by the stores. I heard that filing Reg E would help, but how do I file such claim? The bank said they closed my case already. Is there a time limit? It happened in May 2009."
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 If the transfers from the account were made electronically, they may be covered by Regulation E. If they are, your friend should have a right to file a claim that the transfers were unauthorized, and to recover at least some of the funds removed from the account, even though the money left the account in May. If she feels that her banker was involved in the fraud, she should contact a different bank representative to file the claim.
We can't offer an opinion concerning whether the change of address should have "tipped off" the bank that something unusual was going on. We can say that for the bank to wash its hands of this problem is wrong, and your friend should push for a resolution.
You were kind enough to help your friend communicate her problem to us. We hope that you will offer to help her speak with the bank's representatives, too. It's possible that communication problems have made the problem larger than it started out to be.
Published on BankingQuestions.com 9/22/09
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