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View Full Version : Stolen Money - Am I likely to get it back?



Gizmo
7-5-11, 3:48pm
This weekend, someone stole my debit card number, apparently made a fake card, and went on an ATM spree three states away. I still have my debit card -it never left my possession....

I filed a fraud report with the bank, and they are going to do an investigation, but....am I likely to ever see this money again?

Reasons not (accourding to articles I've read):
1) Money withdrawn at an ATM
2) they used my PIN (how in the world they got that as well as my card number, I am baffled)

Its pretty obvious it wasn't me, because at the same time they were using it at ATMs three states away I was using it to buy a ferry pass in Seattle.

Also, even tho I filed the report at the bank, do I need to file a police report, too?

Float On
7-5-11, 4:08pm
Oh no. That's horrible. I really don't know what to do about it when it's a debit card. I've had credit card numbers stolen before and the credit card companies always covered the charges. I've heard it is different with debit cards. What is your bank telling you? I think it couldn't hurt to have a police report.

redfox
7-5-11, 5:11pm
YES, by all means file a police report; always when there is any kind of theft. If it doesn't help you, it does help investigators establish patterns that will eventually lead to a break & hopefully an arrest!

Do you have homeowners or renter's insurance? That may provide some coverage. Seems apparent that your data was stolen by a reader of some sort - SPD can enlighten you, as there have been reports of surreptitious data readers at locations around the city that capture your data when you enter it - particularly in Capitol Hill. Bummer, my dear...

catherine
7-5-11, 5:27pm
My debit card was compromised. The bank was the one that let me know, and they covered all the charges. It probably varies case by case, but mine had a happy ending--except for the hassle of having to change my card number everywhere.

Gizmo
7-5-11, 6:56pm
YES, by all means file a police report; always when there is any kind of theft. If it doesn't help you, it does help investigators establish patterns that will eventually lead to a break & hopefully an arrest!

Do you have homeowners or renter's insurance? That may provide some coverage. Seems apparent that your data was stolen by a reader of some sort - SPD can enlighten you, as there have been reports of surreptitious data readers at locations around the city that capture your data when you enter it - particularly in Capitol Hill. Bummer, my dear...

No, I don't have renter's or homeowners insurance.

The mostly likely location would be Rainier Beach. I live down that way, and the only two places I used my debit card this weekend were the Safeway in Rainier Beach and the Ferry terminal. And the only place I used my pin was Safeway.

I've never been hit before, on any of my cards. I'm just very surprised that it happened to my debit card, and not my credit card that I use online all the time.

Gizmo
7-5-11, 6:58pm
My debit card was compromised. The bank was the one that let me know, and they covered all the charges. It probably varies case by case, but mine had a happy ending--except for the hassle of having to change my card number everywhere.

Thats what it is looking like so far, but I won't say for sure till later this week.

I caught it, not the bank. I have alerts on Mint set up to send me emails when strange transactions happen, that is how I caught it so fast. I caught it within a few hours of the first charge.

freein05
7-5-11, 8:24pm
Was the card used a debit card or can it be used as a credit card. Does it have a M/C or Visa logo on it. If it was used as a credit card I believe you are covered under credit card regulations. Credit card regulations limit your loss to $50.00 and most banks will wave that. I do not use my ATM card as a debit card because you do not have the same protection as you do with a credit card at least that was the way it was 5 years ago when I was in banking.

janharker
7-5-11, 8:46pm
Debit cards are not generally as safe to use as credit cards, because they are easily compromised. Sorry that this knowledge is too late for you. I hope all works out for you.

Tradd
7-5-11, 9:38pm
Debit cards are not generally as safe to use as credit cards, because they are easily compromised. Sorry that this knowledge is too late for you.

This is a big reason why I've just gotten a plain ATM card from my bank to replace the Visa branded debit card that is expiring next month.

iris lily
7-5-11, 9:42pm
Was the card used a debit card or can it be used as a credit card. Does it have a M/C or Visa logo on it. If it was used as a credit card I believe you are covered under credit card regulations. Credit card regulations limit your loss to $50.00 and most banks will wave that. I do not use my ATM card as a debit card because you do not have the same protection as you do with a credit card at least that was the way it was 5 years ago when I was in banking.

This is mainly why I don't have debit card 'cause free says not to. Seriously.

I guess if I kept only as much $ in the account as I was willing to lose, that's would be ok. But mainly, I just don't need a debit card, I don't see the advantage.

Gizmo
7-7-11, 5:49pm
Was the card used a debit card or can it be used as a credit card. Does it have a M/C or Visa logo on it. If it was used as a credit card I believe you are covered under credit card regulations. Credit card regulations limit your loss to $50.00 and most banks will wave that. I do not use my ATM card as a debit card because you do not have the same protection as you do with a credit card at least that was the way it was 5 years ago when I was in banking.

It does have the Mastercard logo on it.

I called today because the money still wasn't put back, and my rent and water bill came out overdrawing my account. When I called they said because the fax with my signature didn't go through (sent FROM THE BRANCH!!!!!) that I NEVER would have gotten my money back if I hadn't called back. I asked why they didn't call/let me know that the fax the bank teller sent from the branch didn't go through, they said it was because it didn't have enough information for them to know who it was from????

I'm a bit livid, to find out in two days they have done NOTHING even though they had the report of fraud (again, filed in THE BRANCH!). They said now that I called in they will call the branch and have them refax it. Honestly, that is why I didn't fax it from work, and walked it into the branch because I thought they would have a better system for getting the paperwork done than horribly unreliable faxes. Argghhhhh......

redfox
7-8-11, 11:10am
In today's Seattle PI:
http://www.seattlepi.com/local/article/Seattle-ATM-skimmer-bilked-more-than-100-faces-1457094.php

Gizmo
7-8-11, 12:26pm
Yeah, I saw that. That may be how my number got stolen - I have used BECU ATMs. However, my card number when stolen wasn't used locally. When I talked to the bank, they thought my number may have been one of the ones taken from Michael's craft stores- I used my card with pin number at a compromised store during the right time period.

Edit to add - its a bit scary how easy it is for criminals to steal your information...

lhamo
7-8-11, 7:33pm
Ooh -- creepy! I'm a BECU member and exclusively use their ATMs, especially the ones in Safeway branches, when I'm home visiting family.

Gizmo, your information was probably sold on the underground market shortly after the information was collected, so the fact that it was used elsewhere is not surprising but rather par for the course in terms of how these guys work. Planet Money just had a really interesting episode where they covered how this works, and how one federal agent infiltrated and shut down one of the biggest on-line crime syndicates a few years ago.

http://www.npr.org/blogs/money/2011/06/16/137181702/the-tuesday-podcast-inside-the-credit-card-black-market

No solace at this point, but thought you might find the piece interesting.

lhamo

Bastelmutti
7-10-11, 8:15am
The same exact thing happened to us, down to the fact that I discovered the breach a few hours after the charge. Card never left our possession, but our pin was used with a fake card halfway across the country. We got the money back (pretty easy to prove we were not halfway across the country at that time), but it took about 2 weeks or so.

Gizmo
7-11-11, 12:50pm
Because they 'lost' the paperwork the branch faxed in, they credited the money back on Friday. They did say it normally takes a few weeks.

At least its a happy ending. I got all my money back, and they took all the NSF fee off my account.

Float On
7-11-11, 1:10pm
That is great news!