There are three primary threats in terms of bank fraud. They include identity theft, credit or debit card fraud, and check fraud. With these threats, the consumer, as well as the bank, are potential victims. Luckily, consumers and banks have the option to hire a Bank Fraud Investigator Firm in Washington DC, to track down these illegal actions.
Investigating Identity Theft
Forensic accountants analyze financial data to identify fraudulent trends. They investigate reports of new accounts started in the consumer’s name. They also review any charges made on credit cards, debit cards, or unexpected withdrawals from bank accounts. The accountant utilizes software to track the origins of these transactions.
Perpetrators utilize scanning devices to access credit or debit card numbers. However, this doesn’t guarantee that the individual receives the security number on the back of the card. Unfortunately, this number isn’t needed to acquire cash withdrawals from an ATM. In these instances, the investigation requires video footage from the bank. Victims of identity theft should contact a Bank Fraud Investigator Firm in Washington DC. You can also browse their website for further details.
Stolen Credit or Debit Cards
All consumers should report a stolen credit or debit card immediately. This doesn’t protect them initially from charges made before they report it. However, it does make the credit card company or bank aware of the situation. A forensic accountant evaluates the charges to identify instances of fraud. Their assistance prevents consumers from paying for charges they didn’t make.
Check Fraud and Forgery
Signature analysis helps to identify fraud. Stolen checks are forged to acquire immediate financial gains. Skilled criminals use these instruments along with fraudulent identification. Unfortunately, the crime isn’t detected until the consumer’s account overdrafts. However, consumers who manage their accounts carefully may identify check fraud earlier.
There are three primary ways bank fraud is committed. Consumers often fall victim to these practices. Perpetrators acquire the account information through devices or via insecure links. Using the collected information, the criminals could drain the consumer’s resources quickly. A Bank Fraud Investigator Firm in Washington DC, can track down the criminal and bring them to justice. To learn more about these services, Contact Business Name today.
