Bank Scams

We represent victims of fraud involving bank accounts.

Financial institutions are required to safeguard your accounts through Due Diligence and Know-Your-Customer regulations, but their negligence could make them liable. If suspicious activity within your financial accounts was not flagged or if you were misled or tricked, you may be the victim of a financial scam and may have a case against your bank.

Kronenberger Rosenfeld, LLP has represented clients against large banks such as Chase, Bank of America, Wells Fargo, Citibank, First Republic Bank, and Citizens Bank, as well as non-bank financial institutions like Charles Schwab, Fidelity, Zelle, PayPal, Cashapp, and others.

Examples of Victims of Bank Scams

Bank scams are continuing to evolve, so it is important to be on the lookout for bad actors attempting to ensnare you in a scam. Some common victims profiles of bank scams include:

• Customer is convinced a security breach has occurred when it has not

• Customer is tricked into providing access to an account or initiating transfers, by, for example, revealing one-time-password text messages to a scammer

• Customer notices that there are unauthorized transactions in his or her account, with no idea how the money was transferred out of the account

• Customer believes he or she is talking a the bank over the phone, and gives to the thief access to customer's personal computer, allowing access to online financial accounts

Phishing as Bank Fraud

These are manipulative and misleading tactics where cybercriminals convince you to share bank account information on a phishing website, or they pretend to be a bank representative and ask for your account number over the phone.

Bad actors sometimes impersonate banks or financial institutions to make you believe:

• You are speaking to a legitimate employee or agent of the financial institution

• You may have suffered a security or data breach and your account is compromised

• You’re being offered an exclusive opportunity to make money by investing

• You must cooperate by providing access to personal information or initiate transfers or otherwise face legal consequences

Bank Responsibilities

Banks are expected to uphold industry-standard safeguards required under the Bank Secrecy Act, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.

You deserve the peace of mind that your assets are continuously protected with vigor by your financial institution you are entrusting with your funds. If you are the victim of a bank scam, we would be happy to hear from you so we can determine if we can help. Our firm encourages you to submit the details of your bank scam matter using our online case submission form.