Monetary Fraud And Scams Are On The Rise
If you’ve ever been ripped off, violated, or scammed, you know how devastating it can be to your finances, quality of life, and self-esteem. And it’s even worse when credit card companies and financial institutions don’t follow the law to help protect you.
Most victims of fraud think that if they can’t track down the scammer, there have no other options. And when your money is stolen, it can be difficult to convince your financial institution that you aren’t at fault. But fortunately, several federal and state laws are designed to protect consumers who are defrauded. These laws require your bank to reimburse missing money if certain requirements are met.
At Santoni, Vocci & Ortega, LLC, we are dedicated to standing up for victims of these fraudulent activities.
Common Types Of Fraud
Understanding the different types of fraud can help you recognize potential threats and take appropriate action. Here are the most common types of fraud we handle:
1. Credit Card Fraud (Governed by the Fair Credit Billing Act)
Credit card fraud occurs when someone uses your credit card information without authorization. The FCBA provides essential protections for consumers, limiting your liability to $50 for unauthorized charges if you report the fraud promptly. However, many individuals face challenges when dealing with credit card companies that may dispute claims or fail to take action. Our firm is well-versed in FCBA regulations and can assist you in navigating these disputes, ensuring your rights are upheld.
2. Bank Fraud (Governed by the Electronic Funds Transfer Act)
Bank fraud often involves unauthorized electronic transactions, such as ATM withdrawals, debit card purchases, person-to-person transactions (Zelle, Venmo, CashApp, etc.) or online banking transfers. The EFTA protects consumers by establishing rights and responsibilities for financial institutions. If you notice unauthorized transactions, the EFTA requires you to report them within a specific timeframe to limit your liability. Our attorneys can help you assert your rights and pursue claims against financial institutions that fail to investigate or rectify these issues appropriately.
What To Do When You Are A Victim Of An Unauthorized Transfer
If you find yourself a victim of fraud or unauthorized transactions, it’s crucial to take immediate action to protect your rights and minimize your losses. Here are the steps you should follow:
- Report the Fraud: As soon as you notice unauthorized transactions, contact your bank or credit card company to report the fraud. This should be done immediately to limit your liability under the EFTA or FCBA.
- Document Everything: Keep detailed records of the fraudulent transactions, including dates, amounts, and any communication with your financial institution. This documentation will be invaluable if you need to pursue legal action.
- File a Dispute: If your financial institution fails to address the issue satisfactorily, you may need to file a formal dispute. Under the EFTA and FCBA, you have the right to challenge unauthorized transactions and demand a thorough investigation.
- Contact Law Enforcement: For significant fraud cases, it’s important to file a report with local law enforcement. This creates an official record of the crime and may help in investigations.
- Consult an Attorney: Call an attorney. We can help you navigate the complexities of the law, advocate for your rights, and explore potential legal remedies.
Contact Us Today
If you have fallen victim to scams, fraud, or unauthorized transfers, Santoni, Vocci & Ortega, LLC, is here to help. We understand the emotional and financial toll that these situations can take, and we are committed to fighting for your rights.
You pay nothing out-of-pocket for our legal services in bringing a lawsuit for an unauthorized transfer. We operate on a contingency fee basis so that there is zero out-of-pocket cost to you.
Don’t hesitate to reach out for a free consultation. To reach us, call 443-782-5596 or send an email.