Banking Fraud Claims Attorneys

Defending the Rights of Consumers in Illinois

Fraudulent attacks on bank accounts causing consumers to lose money are on the rise. We have recently observed that a number of major banks and issuers of prepaid debt cards refuse to honor legitimate customer claims that somebody hacked into and stole money from their accounts. If you have been having trouble getting your bank to return money that was stolen or otherwise fraudulently transferred from your account, please contact us. We may be able to help you using the Electronic Funds Transfer Act, known as the EFTA. The EFTA is a federal law that requires banks to return money taken using certain kind of fraudulent electronic transactions to consumers. The EFTA covers ATM transfers and cash withdrawals, online transfers and ACH payments, point-of-sale transactions using debit cards, automated bill pay plans, and various other EFTs. It does not generally cover wire transfers, unless there was some other electronic transfer involved. Other laws cover fraudulent credit card transactions.

If you are a bank or credit card fraud victim, you need to act quickly. Many bank’s terms of service require you to provide written notice of fraudulent transactions by deadlines that are often as short as 30 days. Notify your bank in writing as soon as you notice a transaction you did not authorize, and review your accounts for suspicious activity at least once a month. File a police report if you find an unauthorized transaction, but do not delay giving notice.

We handle bank fraud cases on a contingency basis, which means we will try to obtain our attorney’s fees from the other side. We may still be able to help you even if the fraudsters tricked you into giving them your account information, or clicking on a fraudulent link. Along with getting your money back you may be able to recover statutory damages of up $1,000, actual damages, and up to three times your actual damages, depending on which law applies to your situation.