Identity Theft and Banks

[spankingman]

Recent victim of Identity Theft and had bank account cleaned out. My PC was hacked and was recently bombarded by worms Trojans etc. Bank says its not thier fault I put info out in cyperspace. Anyone have any experince with this? Did the bank pay out ?

 

[yahoo40]

Recent victim of Identity Theft and had bank account cleaned out. My PC was hacked and was recently bombarded by worms Trojans etc. Bank says its not thier fault I put info out in cyperspace. Anyone have any experince with this? Did the bank pay out ?

How can someone take money in cash out from your account online ?

I understand these type of theft are covered by banks under some insurance ?

i still cant undrstand how can someone clean up your account by having account # and even password ?

 

[hungry]

How can someone take money in cash out from your account online ?

I understand these type of theft are covered by banks under some insurance ?

i still cant undrstand how can someone clean up your account by having account # and even password ?

Sorry it happened to you spankingman, I hope it wasn't much and the Bank helps you out, after all they encourage us to go online.

Anyway, it can happen, it you get a Trojan that copies what you enter. ie your bank card and password numbers. Then all they have to do is transfer it out of your account to their account that they have set up on your computer, same way, for example when I transfrer from my bank to ING and vice versa, once it is in their account it is gone. Scary part is this on the increase big time. Update and scan your computer daily with anti malware and anti virus software. Even then you can still get nailed. I try to check my account daily as it usually takes 48 hours to complete the transfer. The bestway is to bank on the phone, it is secure.

I saw on the news a few weeks ago in Sask., where a woman lost 10k this way and the bank (I think it was a Credit Union) would do nothing for her.

 

[69Shooter]

Sorry it happened to you spankingman, I hope it wasn't much and the Bank helps you out, after all they encourage us to go online.

Anyway, it can happen, it you get a Trojan that copies what you enter. ie your bank card and password numbers. Then all they have to do is transfer it out of your account to their account that they have set up on your computer, same way, for example when I transfrer from my bank to ING and vice versa, once it is in their account it is gone. Scary part is this on the increase big time. Update and scan your computer daily with anti malware and anti virus software. Even then you can still get nailed. I try to check my account daily as it usually takes 48 hours to complete the transfer. The bestway is to bank on the phone, it is secure.

I saw on the news a few weeks ago in Sask., where a woman lost 10k this way and the bank would do nothing for her.

I have a look at my account on-line at least once a day. If you've got time to be on this board then you can make time to keep an eye on your bank account. The sooner you are aware of a problem and let the bank know the better protected you will be. Also, there is absolutely no excuse for not having real-time anti-virus protection on your computer.

 

[yahoo40]

Ok here is the link about US laws in the similar situation which says if you report the problem withing 60 days your money -500 will be returned .

I am sure Canadian laws are more or less similar

http://www.msnbc.msn.com/id/6713033/ns/business-online_banking/

 

[yahoo40]

From cibc website

No Liability in Certain Cases: Subject to the governing law of your jurisdiction, we will not under any circumstances be liable to you for any Losses resulting from:

== Someone else uses your Bank Card or User ID without your authority but your actions (or inaction) contribute to that unauthorized use.


== Failure to use up to date anti-virus software, anti-spyware software and a firewall on the Electronic Device you use to access Online Banking or Wealth Management Online

 

[Sniper Jr.]

I'd suggest filing a police report. Even though the response is likely to be that you're on your own. Given the amount of internet fraud that goes on every day, it would be nice if there was more of an effort from law enforcement to cooperate globally to at least try to track down the people responsible. I would imagine online fraud is a pretty low-risk / high-reward activity, given that no one, including its victims, seems to make much of an effort to do anything besides take precautionary measures.

 

[james t kirk]

I had my chequing account drained of about 3.5k by a theif.

They made up a fake card and did the following:

1. Bought a money order for $1,995.00 from Money Mart ($5.00 below my daily debit limit.)

2. Transfered an amount from my LOC that was equivalent to my mortgage to my chequing account, then withdrew the amount of my mortgage payment from my chequing account via an ATM.

3. Attempted to repeat Step No. 2.

That's when the RBC computer shut them down and RBC called me that same day.

I remember coming home from work and thinking that the voicemail was a scam and called the number they left and started fucking around with the guy. Eventually, I accused him of being a scammer and asked him why the number he left was different than the number on the back of my card. So he told me to call the number on the back of the card and ask for "Trasit Number" 12345, and there he was. Then he had my attention.

I had to go into my RBC branch and swear out a statement that I was being truthful, that I had not given my PIN number to anyone, that I did not withdraw the money myself, etc.

I got all my money back, but it took about 5 or 6 weeks.


The funny thing was that RBC just gave me a new card with a new PIN number. Not even a new card number - same card number. AND, to make it even stranger, when I got my new card, they had upped all my limits. (There are several limits (if I recall 4 or 5) on a bank card - daily withdrawl, debit, etc. I called up RBC and had them put them all down to realistic levels.)

 

[lamgos]

how did they get your pin? because that is not used in online banking

I had my chequing account drained of about 3.5k by a theif.

They made up a fake card and did the following:

1. Bought a money order for $1,995.00 from Money Mart ($5.00 below my daily debit limit.)

2. Transfered an amount from my LOC that was equivalent to my mortgage to my chequing account, then withdrew the amount of my mortgage payment from my chequing account via an ATM.

3. Attempted to repeat Step No. 2.

That's when the RBC computer shut them down and RBC called me that same day.

I remember coming home from work and thinking that the voicemail was a scam and called the number they left and started fucking around with the guy. Eventually, I accused him of being a scammer and asked him why the number he left was different than the number on the back of my card. So he told me to call the number on the back of the card and ask for "Trasit Number" 12345, and there he was. Then he had my attention.

I had to go into my RBC branch and swear out a statement that I was being truthful, that I had not given my PIN number to anyone, that I did not withdraw the money myself, etc.

I got all my money back, but it took about 5 or 6 weeks.


The funny thing was that RBC just gave me a new card with a new PIN number. Not even a new card number - same card number. AND, to make it even stranger, when I got my new card, they had upped all my limits. (There are several limits (if I recall 4 or 5) on a bank card - daily withdrawl, debit, etc. I called up RBC and had them put them all down to realistic levels.)

 

[Tangwhich]

how did they get your pin? because that is not used in online banking

The common tactic was (is?) is have a second reader attached to the first, then just watch people punch in their PIN

 

[drstrangelove]

Then all they have to do is transfer it out of your account to their account that they have set up on your computer, same way, for example when I transfrer from my bank to ING and vice versa.

Not sure how this could happen. Doesn't the bank need to add the accounts to your online banking profile before money can be transferred from one to the other? If it's not your account, you can't add it yourself. When I set up my ING account, I had to provide them with a cheque from my account at the other bank before I could transfer to/from it.

 

[Cassini]

Not sure how this could happen. Doesn't the bank need to add the accounts to your online banking profile before money can be transferred from one to the other? If it's not your account, you can't add it yourself. When I set up my ING account, I had to provide them with a cheque from my account at the other bank before I could transfer to/from it.

That is an ING only rule, to prevent them from being implicated in scams.

To transfer money between accounts, all you need is the digits on the bottom of a cheque and the name of the bank. The name of the bank is pretty easy to guess in Canada.

 

[noalias]

the original poster is either bullshitting or lying. there is no way that a bank is not going to cover what was stolen/scammed from you, if indeed you are honest and telling the truth/had nothing to do with it. all the banks have badges when u sign into online banking saying '100% reimbursement for any fraudulent activity'

 

[drstrangelove]

That is an ING only rule, to prevent them from being implicated in scams.

To transfer money between accounts, all you need is the digits on the bottom of a cheque and the name of the bank. The name of the bank is pretty easy to guess in Canada.

Not sure where you're getting your information, or exactly what you mean by transfer. To do it electronically, all accounts must be set up by the bank, and it's their responsibility to ensure the accounts belong to the rightful owner. To do it manually in a bank, the bank employees are again responsible to ensure the identity of the owner of the account were the funds are being withdrawn. Anything less would result in financial chaos.

 

[james t kirk]

how did they get your pin? because that is not used in online banking

Good question. The bank never said (though I suspect they knew a lot more than they told me).

I typically used my Debit card at Loblaws, Home Depot, Costco, Canadian Tire, etc. I use it for budgeting purposes mainly, however, Costco does not take CC other than AMEX. Never anything much other than that.

I have no idea how they got my PIN, but PIN numbers are a joke apparently. I used to laugh at people covering key pads with their hands. Guess who covers key pads now.

 

[Mencken]

Not sure where you're getting your information, or exactly what you mean by transfer. To do it electronically, all accounts must be set up by the bank, and it's their responsibility to ensure the accounts belong to the rightful owner. To do it manually in a bank, the bank employees are again responsible to ensure the identity of the owner of the account were the funds are being withdrawn. Anything less would result in financial chaos.

It's easy to send money to another account, person, etc. even just using email. Once a thief has access to your accounts that is.

Also...if you have a debit card, it gets stolen, and somehow they also get your pin number you are on the hook. I know that for sure.

Pin number was gotten by someone posing as a guard and probably watching, and the card was obtained by accomplice pickpocket. Bank didn't care...you disclosed your pin and let someone steal your card.

 

[PurpleMonkey]

In many situations that I have heard from Identity Theft, the bank will reimburse your money but not until after a full investigation by the Fraud/Sec. Dept. has taken place, usually between 4-6 weeks. I have heard some even 6 months. All of course depending on the situation. For Credit card Fraud, it is usually between 3-4 weeks. RBC is the quickest to respond, followed by TD then CIBC. Not sure of the others like BMO.

 

[noalias]

i think OP is either thinking of doing a scam and trying to find out how banks reacts/solve scam issues, or he is lying.

what bank is this guy with that, his account would get "cleaned out" and the bank won't cover it, if in fact he did get scammed?
bullshit. and virus my ass, bank has no way to prove you didn't use a virus protector, and even if they do, you can always argue the virus was advanced and penetrated your protection.

 

[yahoo40]

i think OP is either thinking of doing a scam and trying to find out how banks reacts/solve scam issues, or he is lying.

what bank is this guy with that, his account would get "cleaned out" and the bank won't cover it, if in fact he did get scammed?
bullshit. and virus my ass, bank has no way to prove you didn't use a virus protector, and even if they do, you can always argue the virus was advanced and penetrated your protection.

Exactly !

If banks stop paying fraudlent activity no one will use online banking and bank actually save millions of dollars in costs from online banking use

 

[drstrangelove]

It's easy to send money to another account, person, etc. even just using email. Once a thief has access to your accounts that is.

Also...if you have a debit card, it gets stolen, and somehow they also get your pin number you are on the hook. I know that for sure.

Pin number was gotten by someone posing as a guard and probably watching, and the card was obtained by accomplice pickpocket. Bank didn't care...you disclosed your pin and let someone steal your card.

You should be a writer for a television show. None of your points have any basis of fact. You know, like when the detectives claim within 1 hour of a crime that they've checked all of the suspect's bank account and cell phone records and found nothing. Ever wonder how they knew what bank or cell phone company the suspect dealt with, or why the records would be turned over so quickly? Your comments have the same level of logic.