Unlocking the Legalese: How AI Legalese Decoder Can Help Navigate the Complexities of Financial Fraud Involving Forged Signatures
- April 13, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Situation Overview
This is a savings account where my dad was initially listed as the beneficiary and I was the primary (and only) account owner. After cutting off communication with my dad due to his abusive behavior, I discovered that he had become a joint owner of the account and transferred $50K out of it. The bank informed me that my signature on the document authorizing this change was forged and my driver’s license number was used without my consent.
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## Reporting the Incident
The bank has initiated a fraud investigation and transferred the funds to a new account in my name. They have advised me to fill out an identity theft affidavit to report the incident to the credit bureau and law enforcement. However, I am unfamiliar with this process and seek guidance on how to proceed with filing a police report and understanding the potential charges involved.
## Seeking Legal Protection
Given that my dad used my personal information to commit fraud and identity theft, I am considering pursuing a restraining order against him. I would like to explore the options available to me in terms of legal protection and how to proceed with obtaining a restraining order based on these circumstances.
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****** just grabbed a
First off, the bank is on teh hook for this – they did not check your signature, nor did they suspect an obviously false signature. Expect the bank to play games with you, and try to delay refunding the stolen money. It’s not your fault, but they want to make it yours, so you give them a deadline, with the warning of a lawsuit and a report to the state banking regulators.
There is no reason for them to delay even an hours – you showed them proof, so all they have to do is transfer to your account, something that takes maybe an hour due to verification, and the bank now has to get the money from you dad. So I would tell them 5 business days, then take legal action, without any more communication. Speaking of, make all communication written – letters, emails, etc. If they call then you sum up the conversation in a letter or text and ask them to verify the contents of that conversation.. Keep a list of names and contact information, too. And verify the phone numbers and email addresses they give you..
In that 5 day waiting period, find a lawyer and file a complaint with the bank regulatory board anyway. It will probably take you 5 days to do that, anyway.
You will have to file charges with the police. Your dad is in a world of trouble, but he created it.
Op, in addition to other advice here, do not continue to trust this bank. Go to a new bank- completely unrelated to the current bank and not the bank maintaining the account where your dad transferred the money- and open a new account. Transfer the remainder of your money (the one the bank moved to a new account) and leave just enough to keep the current account they set up open. When they return the $50k, transfer that to the new bank account and close the accounts with the original bank.
> the bank branch near me has transferred the funds to a new account only in my name, and opened a fraud investigation.
Good ! So please, clarify: has all of your money been restored to your control ?
>I can fill out an identity theft affidavit to report this to the credit bureau and law enforcement
What country, state, or province do you live in ? Your local police might have a dedicated identity theft group, which handles both simple cases like yours and organized-crime ID theft. Sometimes ordinary patrol officers respond to ID theft and bank fraud incidents, sometimes it goes directly to detectives and specialists.
If you’re in the USA, the good folks of the Consumer Financial Protection Bureau have some guidance about protection and prevention. There is literally an IndentityTheft dot Gov website that is the real thing.
https://www.consumerfinance.gov/ask-cfpb/what-do-i-do-if-i-think-i-have-been-a-victim-of-identity-theft-en-31/
>a restraining order
That is probably not an approach you can take. Bank fraud isn’t harassment or stalking. What he did is already illegal.
I do fraud prevention work just like this for a living, the bank owes you the money flat out. They have procedures in place specifically to avoid this issue and didn’t follow them. They will try to recoup the funds from the receiving institution but regardless of if they get it back they owe you the money. Make sure all communication is in writing and file a police report on the issue as well.
I work for a national bank. The primary account owner needs to be present in order to add a joint signer. It can be done manually if both people are in different places, but both people need to sit with bankers, who will need to send internal documents back and forth.
Your bank fucked you, but don’t back down. Definitely file a police report. Once they credit the funds back to you, close your accounts and get out of there. The banker who sat with your dad should be fired
The bank is on the hook for this!
Did he take a signature card and forge it outside of the branch? From my experience working at banks, the signature has to be notarized if taken off premises – I am unsure if this is regulatory or just best practice. I’d be getting ahold of the managers, bank president, and bank board members about this and threatening legal action.
The bank should have added your dad to your account. If you review their process you will realize it was not followed. The bank may ask you file a police report. But I would escalate it up the chain if you get a no answer. This was fraud and the bank was compliant