Can a bank be held liable??

Question

I was a victim of a check scam in the amount of $5,000. When I received the check, I called the bank it was issued from. I was informed the check was good. I deposit it in my bank and send the money these "scammers" wanted. My bank didn't put a hold on any of the money. A week after the check was returned. I called the original bank it was issued on. They told me the account was closed. I filed numerous reports with different agencies. It do any good to do that, but that's what you're supposed to do right. The next day I called the original bank back with more questions. They inform me that the account is back open. WTF???? How can someone be allowed to close an account for 1 day, so a check doesn't clear, then be reopened?? Aren't there laws about that?? I am currently working on a payment arrangement with my bank, but I think that should be liable in someway for not putting a hold on the check. As for the other bank, I think they are fully liable, am I right or wrong here??

I did file a police report, and also have been talking with the fraud dept. at my bank. She is no help at all. She said that she can't start a fraud investigation, that we just need to pay the bank back it's money.

In response to Stan....when I called the bank the check was issued on, they told me that the check was good. Those were the words that came out of "Angela's" mouth. I gave her the account number from the check and the check number. Her response was; "Yes, ma'am, that check is good, there won't be any problems with it clearing."

Answer 1

You need an attorney. When you called your bank, they should have started a fraud investigation. Try to call their fraud dept. now. Also call the police and file a report.

Answer 2

Sorry, but the bank is not liable. These scammers took advantage of the system the banks have in place for their customer's convenience.

You deposit a check and the bank has every right to believe you have given them a check worth the amount written on it's face. They did not issue the check, they did not write the check. They simply processed the check through your account. Sadly, you are the one who should have made sure the check cleared through the scammers bank before you counted on having the money.

The scammers probably committed fraud by closing the account for one day so the check would not clear but the bank cannot tell the customer that they cannot close and re-open an account.

I know this is not what you wanted to hear and if you want to talk to a lawyer, go ahead, but the sad truth is, your chance of recovering any of the money is pretty slim and unless the bank actually use the exact words, "the check is good, we will guarantee payment," rather than something like, "We can verify that if the check were presented for payment at this time, it would be paid," then there is little hope. Sorry.

Answer 3

OK- first off; shame on you...this type of activity is well-known
and in the news frequently.

NOW- the bank [if you actually got to speak with a real banker] may have been correct at the time you called:
there might have been enough money to cover the check then.

As far as liability, sorry.