Bank Fraud

[Hymie]

This is a shocking story of a bank fraud involving a cheque for over £41,000 that somehow fell into the fraudster’s hands; as usual the bank is denying any culpability despite the cheque being paid into a fraudulent account set up at the bank.

The banking code requires all UK banks to ensure that they can identify persons who open an account. To stop virtually all bank frauds committed on UK citizens, all the authorities need to do is put in rules such that should a customer lose any money, and it be shown to have passed through a fraudulent account (that the bank allowed to be set up), then the bank will be liable for all losses.

Once banks start losing money due to their incompetence they will do something about it – but while they can deny any responsibility nothing will be done.

So take care if posting a cheque, it might never reach your account, and there is nothing you can do about it.

https://www.dailymail.co.uk/money/experts/article-11245671/TONY-HETHERINGTON-Cheque-41-627-stolen-change.html

[bobbinwales]

well its one that has arguments both ways but my guess is the bank will back down. The account itself wasnt opened fraudulently it seems to me as the account holder did have the name given on the application... although the bank should hindsite of queried the fact hed only just changed his name by deed poll. But the fraud did begin if as it says here the accountholder then altered the cheque to hide the intended payees acc no.... this is where the bank is on dodgy ground.
Am not sure why the cheque was never reported missing and stopped tho as the fraudster who intesepted it kept it awhile before banking it

[barry1010]

I suspect the fraudster was known to the victim

[barry1010]

The cheque wasn't altered. The cheque is only the front and it was the back that was altered. You can write anything on the back of a cheque and it will be ignored. You can't even write your card number on the back to guarantee a cheque these days.