New and Compelling Reason to Monitor Your Checking Account
Closely
Banks in the state and two writers for the Winston-Salem Journal this
week report that thieves are making test raids on consumers' checking
accounts.
They do this by electronically placing small debits against those accounts,
typically $10 to $20. Later, if the small, unauthorized debits are not
picked up and reversed by the banks or the account holders, the thieves
produce counterfeit
ATM cards or use other electronic debiting systems to rob the accounts
of much larger sums. It is unclear how the thieves are getting the
sensitive account
information necessary to place these debits. While not ultimately responsible
for the unauthorized charges if they challenge them in time, consumers
can still end up with bounced checks to legitimate merchants, mortgage
companies
and others, plus returned check fees and frozen accounts. The scam highlights
the need to monitor one's checking account carefully and to contact the
bank immediately if unauthorized or suspicious charges appear, no matter
how small
they might be. The small but suspicious charges could be preliminary raids
on the account and a prelude to bigger raids to come.
******End of Alert******
October 20, 2005
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NC Senior Consumer
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