The bank draft scam has been ongoing since the 1990s. Because it is possible to remotely create a check that doesn’t require a signature, scam artists have figured out a way to exploit the system. One way to determine whether you may have been a victim of a bank draft scam is if you notice unauthorized withdrawals from your checking account.
Testing the Waters
The Scam
The Outcome
It’s Illegal
It’s been illegal since 1995 for a telemarketer to take money from your bank account without getting your permission. The telemarketer must get your permission to debit your account in one of three ways: written authorization by you; a tape recording of you granting authorization; or she must send you written notification before she debits your account. If the telemarketer plans to use the tape recording option, she must tell you that she is taping the conversation. The telemarketer must also tell you the date she intends to debit your account, the amount she will debit, who receives your money, how many times she intends to debit your account, and a phone number that you can call to reach her.
What To Do
If you’ve been scammed by having money removed from your checking account without your knowledge or consent, contact your bank. Say that you did not authorize the debit transaction. Tell the bank not to allow any further transactions of that nature. Hopefully, you will get your money back, but there is no guarantee.
References
Writer Bio
Laura Agadoni has been writing professionally since 1983. Her feature stories on area businesses, human interest and health and fitness appear in her local newspaper. She has also written and edited for a grassroots outreach effort and has been published in "Clean Eating" magazine and in "Dimensions" magazine, a CUNA Mutual publication. Agadoni has a Bachelor of Arts in communications from California State University-Fullerton.