VAHOINTE1 bank fraud

Rosie

Recycles dryer sheets
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Jun 20, 2010
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Sac suburb
(This is kind of relevant to Harley's thread about fintech, but I thought I'd start a new thread concerning this specific issue)

Anyone else here affected by the VAHOINTE1 ACH fraud?

Last Thursday I had 2 ACH withdrawals taken from my checking account at USAA, both for $295.95 to a payee called Vahointe1. This was followed soon thereafter by a reversal by the payee of one of those charges back to my account. I have never heard of this payee and I certainly never authorized those transactions.

I was out of town at the time but when I returned on Friday I reported the transactions to the fraud reporting section on the USAA website, and followed up with a phone call this morning. It's still being investigated. Hopefully I won't need to close my checking account and open a new one but I'm gathering all the info I need just in case. :confused:

When I first found this I thought it might have been some kind of glitch in my checking account, but it appears to be widespread, affecting customers' accounts at many different banks. There's currently a lengthy thread about this on Reddit:


Anyways, just a heads up.
 
My first "bank account" (credit union), when I was 20 years old, had a problem with ACH, and I had to close the account and open a new one. Ever since, I've not let anyone pull from my bank account without very good reason. The only time in the last decade was with student loan payments...they gave a 1/2% off on a 3 1/2% loan if you gave them your bank details...too juicy to pass up.

We need a list of companies that use "Finastra", because that's probably where this problem arose.

 
I was thinking about this more. Actually I wasn't thinking about it, but the idea popped into my head that this might be a bank ACH software bug.

The scam always involves a deposit, so I wondered if there was some rule that said "If somebody makes a deposit, then changes their mind right away and reverses the deposit, let that go without the normal ACH precautions"

The software bug would be allowing TWO reversals. They get the bank to lower their guard by making a deposit, use the opportunity to make two withdrawals.

Just a theory.
 
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