Bank Now Refuses to Reimburse Customer $270K in Stolen Money

October 9, 2023

A bank is now refusing to reimburse a customer with $270K in stolen money after several unauthorized transactions from a business account were made.

Tiffany Allen says $270,000 was initially stolen from her family’s Truist Bank business account in five separate unauthorized transfers.

Her family has owned RV Kountry in Fort Myers for more than 40 years, so large amounts of money come and go, reports CBS-affiliated news station, WINK.

The bank has failed to recover or reimburse the remaining missing $240,000.

Allen says Truist told her that someone changed the security number of her business accounts and transferred the funds using an IP address located outside the United States.

“They didn’t notice that my security phone number changed. They didn’t notice that it’s a strange IP address that the wires are coming from. I didn’t even think this was real. That something like this could actually happen.”

According to Allen, the lender could not provide answers as to how the thief managed to evade the bank’s security systems.

“You feel like, to be robbed or [have] something [taken] from you, you have no control of it…

Truist should stand behind its customers. That’s their job. That’s why we put our money in the banks.”

Allen believed the Charlotte, North Carolina-based lender would find a way to make her business whole, reports DH.

“You just feel a little sick to your stomach. But at first, you’re like, this is fraud! They’re going to reject these wires and get our money back.”

So far, Allen says she has been able to keep her company alive despite the major loss.

“It’s sad to think this could take a business completely out of business. Then you’re putting 20 families without a job.”

Also Read: A US Bank is Now Denying Customers Access to Money

Other Bank News Today

A bank has now unexpectedly frozen $48K in a customer’s account according to a report from the NBC-affiliated news station, WSMV.

Torrie Jackson says she and her husband received more than $68,000 in back taxes from the IRS earlier this year, depositing the money into their Green Dot Bank account.

Jackson says she began withdrawing large sums of money in July with the intention of closing the account, when the bank blocked her from accessing the remaining $48,000.

“You freak out because you need those funds to take care of your business. Our kids had some things, so we were going to help them pay off some bills.”

According to Jackson, her account was flagged due to a vague and unexplained suspicion of unusual activity, reports DH.

“All I did was withdraw my money, and they could not explain to me what the unusual activity was.”

Jackson says Green Dot requested that she verify her identity to regain access to her account. So she sent the bank a copy of her driver’s license, a utility bill and a copy of her IRS refund letter.

But according to Jackson, the bank refused to validate her documents, and the funds in her account remain frozen more than two months later.

“I call them every day and they have the same answer. It’s devastating. I really don’t know what to do at this point.”

In a statement, Green Dot says it has reached out to the IRS about Jackson’s funds.

“We have communicated our concerns regarding the funds to the customer and have provided guidance on who to contact, including the IRS, for information and updates on the status of the funds. It is our understanding the IRS is processing this case and more information should be available for the customer soon.”

Jackson says she’s received an entirely different message from the IRS.

“I’ve called the IRS. The IRS said they have no idea what they’re talking about. I was told once the IRS issues a tax refund, their hands are out of it.”

But Torrie Jackson isn’t the only one facing turmoil with Green Dot Bank.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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