Am I liable for $7000.00 stolen using my debit card?

Asked over 1 year ago - Mullica Hill, NJ

I reported unauthorized use of my debit card 1 day after I noticed it. The bank will not give me my money back because 1. No one was arrested, 2. There were non-fraudulent charges in between the fraudulent charges, and 3. All the fraudulent charges were near my home. Now I am rethinking this whole thing after reading ETFA. It should also be noted that I never filed a police report because the officer who handled it accused me being at fault, that I let a contractor who was fixing my basement use my debit card because I was a lonely divorcee looking for love, and let him use my card to get him to sleep with me. Because of that I never filed a police report. Is a police report necessary to get reimbursed? Can the bank say that someone needs to be arrested before they reimburse me? Thank yo

Attorney answers (3)

  1. Joseph A Mullaney III

    Contributor Level 12

    2

    Lawyers agree

    Answered . A person who believes funds were electronically and without authorization removed from a bank account should file a police report and provide all known information to conduct a reasonable investigation. Although a police report is not required, it is highly recommended.

    When an "access device," such as a debit card is used, the Electronic Funds Transfer Act (EFTA), 15 U.S.C. § 1693, et seq., and Federal Reserve Regulation E (Reg. E), 12 C.F.R. § 205.1, et seq., define a consumer's rights and obligations. Both are linked below. (The cites may not reflect the latest amendments.) The law and regulations are complicated, so the Federal Reserve has tried to simplify them with a non-binding handbook also linked below. Page 12 describes the deadlines to serve written notice upon a bank to assert rights under the EFTA and Reg. E.

    A person MUST assert his or her rights in writing verifiable through certified/return receipt requested mail. Telephone calls, faxes, email, bank websites, etc. do NOT fully preserve rights.

    Disclaimer: Nothing stated herein is legal advice. For legal advice, consult an attorney; I am not your attorney... more
  2. Mark M Cheser

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . Much more information is needed to answer this question.

  3. Jonathan H Levy

    Contributor Level 20

    2

    Lawyers agree

    Answered . If you know who drained your account, you should go after them civilly. While the facts are not clear, if you gave someone access to your bank account and debit card and now are claiming fraud, you may be opening yourself up to criminal charges.

    This is not legal advice but a general comment on society. International Law 24/7 hotline +1-202-318-2406 - Dr.... more

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