USAA savings acct hacked for 5 figures

[davismills]

My savings acct was hacked twice on Friday. The first time I called USAA and asked them to freeze the account. They agreed. I then filed a police report and when I returned home the account had been hacked again.

Anybody else have something like this happen? I have frozen credit, I use two factor authentication with every account I have...that offer it, anyway.

No other accts have been affected.

I've been a customer of USAA for over 32 years, but I'm so far not impressed with their reaction to this catastrophe.

 

[Earl E Retyre]

That is aweful. I always wondered what would happen if someone's account got hacked at a major financial institution. I just googled USAA account hack and noticed a few threads regarding accounts being hacked in 2015. Good luck and keep us posted. Hopefully you have no personal losses and they handle it quickly.

 

[walkinwood]

My savings acct was hacked twice on Friday..

Sorry to hear this and hope you come out of this whole.

Could you elaborate? What happened? How did you know.. etc.

 

[davismills]

Sorry to hear this and hope you come out of this whole.

Could you elaborate? What happened? How did you know.. etc.

I check my accts every other day and noticed the balance was off. Further investigation revealed that someone had "created" a check with a fictitious name and my acct number. It was made out to another person. I called USAA immediately and asked them to freeze my account. I left for the police department and when I returned I checked and it had happened again. USAA failed to freeze the account properly. 32 years with USAA have come to an end.

 

[MichaelB]

This happened twice to extended family members. Both times they asked for my help after failing to get restitution. How USAA acts now is more important IMO.

 

[rayinpenn]

I'm not sure someone creating a bogus check should be considered being hacked...hacked generally refers to someone gaining online access to your account. So for example if someone was able to get your password with a key logger or via eves dropping and then drained your account via funds transfer that is being hacked.

Keep in mind that financial institutions are continually the targets of fraud. It is never resolved as fast as you like but having said that stay on top of them.

Edit: most importantly hope you get all your funds back without too much fuss..

 

[target2019]

USAA could do a better job, IMO.

One child has a debit card with them. Ten years ago it was a joint acct, since child was a teen. All account information was switched over to adult child only in last few years. Definitely more than one year. In the past month USAA sent a debit card to both. That should not have happened.

You can expect systemic breakdowns. After all, there are multiple systems within a company that do not always converse. However, if you report fraud, and safeguards do not lock down your account(s) with a few minutes, something is seriously wrong.

 

[davismills]

I'm not sure someone creating a bogus check should be considered being hacked...hacked generally refers to someone gaining online access to your account. So for example if someone was able to get your password with a key logger or via eves dropping and then drained your account via funds transfer that is being hacked.

Keep in mind that financial institutions are continually the targets of fraud. It is never resolved as fast as you like but having said that stay on top of them.


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You're correct. Hacked is not the proper word in this case. My profile was not changed.

 

[braumeister]

someone had "created" a check with a fictitious name and my acct number. It was made out to another person.

I'm no expert, but it seems as if it should be fairly easy for law enforcement to track down the miscreant in this situation. And as a longtime USAA banking customer I'm sure they will take care of you. Good luck.

 

[Gone4Good]

I'm no expert, but it seems as if it should be fairly easy for law enforcement to track down the miscreant in this situation.

If they care to. You'd think 5 figures is a tidy enough sum to get law enforcement's attention.

We had someone use our credit card # to buy airline tickets. When I asked if the police would apprehend the suspect seeing as how they knew the exact time and location where the miscreants would collect their booty the answer I got was . . . ¯\_(ツ)_/¯

 

[MRG]

Never had a USAA account but. I have no doubt you will be made whole. No matter how much was taken its much cheaper for USAA to eat that amount than the bad press you, or anyone, could create for them. I spent many years around this industry and have never seen it end any other way.

 

[Senator]

I check my accts every other day and noticed the balance was off. Further investigation revealed that someone had "created" a check with a fictitious name and my acct number. It was made out to another person. I called USAA immediately and asked them to freeze my account. I left for the police department and when I returned I checked and it had happened again. USAA failed to freeze the account properly. 32 years with USAA have come to an end.

If it is truly a check that was forged, the bank is legally required to reimburse you.

National banks are generally required to reimburse customers for forged checks. However, based on individual circumstances, the bank can investigate to determine if the customer is entitled to a reimbursement.

Whether the bank is liable for the customer's loss depends on the specific circumstances of the case. Generally, a bank is liable for accepting a check that has been forged, altered, or improperly endorsed. However, if the bank can prove two things—that it accepted the check in good faith and exercised ordinary care and diligence in handling the transaction—it may not be liable.

If your actions—the way the check or checkbook was handled, issued, completed, or made payable—contributed to the making of the forgery, you may be at least partially liable. Generally, the bank will require you to complete an affidavit. It may also request that you file a police report.

Answers about Forgery and Fraud

 

[jetpack]

I would not say your account was hacked. The account number was used in a forgery.. a bad one. They didn't even use your name! So, it should be easy to correct, especially because you found it so fast. You account number isn't even suppose to be private.. as anyone you write a check to can see it.

 

[Texas Proud]

I'm no expert, but it seems as if it should be fairly easy for law enforcement to track down the miscreant in this situation. And as a longtime USAA banking customer I'm sure they will take care of you. Good luck.

Just to let you know, law enforcement will not pursue this unless the money is BIG...

I had someone take my name and address, created a fake check to a fake bank account and buy over $1K worth of stuff from a mall... using two checks... Telecheck said they were good... then when they bounced tried to come after me to make good on the checks.... I got with the police and had a report filed.... but nothing happened after that.... well, except for Telecheck harassing me for the next year or two...

I am REALLY glad they did not have my checking account number...

 

[Fedup]

The bank should take care of this. It pays to check your account often. I found out my credit card was charged $3.50 from some parking lot in Hawaii. We have not been there in the last 4 months. The bank closed the account and reimbursed me.


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[braumeister]

Just to let you know, law enforcement will not pursue this unless the money is BIG....

The OP said it was 5 figures. To me that's big money.

USAA bank may not be the quickest in responding to a problem, but they have always done the right thing by me, even it it takes an extra day or two.

 

[MichaelB]

USAA bank may not be the quickest in responding to a problem, but they have always done the right thing by me, even it it takes an extra day or two.

Our experience with USAA bank has also been positive. In this case it is not clear even if USAA has done something wrong. The responsibility, and liability, are with the bank that received and deposited the bad checks.

 

[Texas Proud]

The OP said it was 5 figures. To me that's big money.

USAA bank may not be the quickest in responding to a problem, but they have always done the right thing by me, even it it takes an extra day or two.

I reread all of his posts and do not see where he said it was 5 figures.... can you quote it for me?

 

[MichaelB]

I reread all of his posts and do not see where he said it was 5 figures.... can you quote it for me?

It's in the thread title.

 

[davismills]

Thanks for all the comments. You good folks have put my mind at ease, somewhat. I will say that USAA has never let me down in all the years I've dealt with them. Not freezing the account when I asked them the first time is what has me concerned. My local police dept was all over this one and has verbally promised support. The total was just shy of 50K. It was my emergency fund and I feel a bit "naked" right now if you know what I mean. I'm trying to remain positive and hopeful. Again, I appreciate the support from this community.

 

[mickeyd]

Hi davismills. So sorry for your banking problems.

You mentioned

when I returned home the account had been hacked again.

Unless I missed something, was that second "hack" also a forged check or was it something else?

 

[davismills]

Hi davismills. So sorry for your banking problems.

You mentioned

Unless I missed something, was that second "hack" also a forged check or was it something else?

To the best of my knowledge it was another forged check (triple the size of the first one). I could not verify because the second phone call to USAA apparently caused them to actually freeze the account. I can see the amount of the forgery, but not the instrument. The thief seemed to be fishing for the "bottom" of my account.

 

[mickeyd]

I agree with others who indicate that the bank will "make you whole." It's clearly not your fault. I am surprised that USAA FSB has not provided you with better customer service. They thrive on that stuff.

 

[mystang52]

OP: For the life of me I don't see how these forged checks - or whatever the term is - could possibly be your legal liability. I'm sure this is stressful until the money is reinstated, but it sure looks like a no-brainer that you will get your money back.

 

[MichaelB]

To the best of my knowledge it was another forged check (triple the size of the first one). I could not verify because the second phone call to USAA apparently caused them to actually freeze the account. I can see the amount of the forgery, but not the instrument. The thief seemed to be fishing for the "bottom" of my account.

Even though you have spoken with USAA at least twice on this and your account has been frozen, you still need to report this in writing - proof that you reported the fraud in a timely manner. You should send the letter certified, with return receipt. Mentioning in the letter that you have filed a police report can be helpful.