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Home >> Scams/Fraud
Bank's Responsibility to Protect an Account
My ex-wife transfers money from my savings account to my personal account, then makes checks out to herself, signing my name to them, at $3000.00 a pop, to the tune of $40,000. I didn't catch them. She also paid a credit card she had, drawn in her name from my account. What responsibility does the bank have to protect my account? This has gone on for two years.
I know its my fault for not paying closer attention to the statements, but the statements I do have, have the transfers line deleted and her credit card payments are line deleted. The bank stone-walled me for ninety days. She was seeing my banker on the side.
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 You say that the transfer lines are deleted from your statements? Did you reconcile your records with those bank statements? If you had, the differences should have been apparent. If the bank statements weren't delivered to you when they should have been, you ought to have noticed that, too. In short, the bank certainly has a lot to answer for, especially if a bank insider was involved in moving funds from your account without your authorization. However, you as a bank customer, had a responsibility to make timely reviews of your account and to call discrepancies to the bank's attention.
It's likely that the bank will try to offer you a settlement for the amounts taken from your account. It may be wise for you to talk to an attorney concerning the bank's responsibility for those transfers, particularly because of the insider involvement you have alleged.
Published on BankingQuestions.com 7/08/10
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