A Wells Fargo business account holder in Orlando, Florida recently became the victim of unauthorized withdrawals and transfers totaling just under $150,000. Robert Branagh, a long-time account holder, expressed frustration that the bank has not been able to identify who authorized the transfers despite filing a fraudulent claim immediately after the incident.
According to Nacha rules, banks are required to report any fraudulent Automated Clearing House (ACH) or business transfer within two business days of discovery. Branagh discovered the breach on August 17 but was not aware until August 29 when a total of $149,296.48 was taken from his Volusia County business account and his daughter’s account in a series of withdrawals. The final withdrawal of $10,000 was taken out of his business account on August 28 and $530 dollars were taken out of his daughter’s account on August 29.
The U.S. Secret Service Orlando office stated that the account may have been tested by a potential buyer of stolen accounts. Small withdrawals suggested that the account was active, which ended with a flurry of larger withdrawals totaling just under $150,000. The Secret Service advises anyone with a checking or savings account to check their accounts every day if they suspect their accounts have been compromised. They should immediately contact their bank and report the incident to local law enforcement or the U.S. Secret Service if there are any questions or need assistance in resolving this matter furthermore users can email firstname.lastname@example.org or text “make ends meet” along with their contact information and issue to 407-676-7428 for more information regarding this matter