[actions to take after] Identity theft

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
Destiple
Posts: 112
Joined: Tue Aug 18, 2020 11:31 am

[actions to take after] Identity theft

Post by Destiple »

[thread title edited for clarity - moderator prudent]

Anyone here had experience?

They got some funds from my chase saving account
Disputing it with chase
They said might take 2 wks
Any hope of getting it back , I notified them within 48 hrs

Got new account numbers for savings and checking
Got a new computer

Any other recs
jarjarM
Posts: 2502
Joined: Mon Jul 16, 2018 1:21 pm

Re: Identify theft

Post by jarjarM »

File a police report on identity theft, freeze credit report are the 2 I can think of it on top of my head. It won't help you get the money back but at least prevent more thefts.
McDougal
Posts: 557
Joined: Tue Feb 27, 2018 2:42 pm
Location: Atlanta

Re: Identify theft

Post by McDougal »

Change all of your passwords (and I mean ALL), using a decent password manager, if you are not already using one.
mhalley
Posts: 10424
Joined: Tue Nov 20, 2007 5:02 am

Re: [actions to take after] Identity theft

Post by mhalley »

Uncle Sam has a series of steps here:
https://www.identitytheft.gov/#/Steps
In addition to the above you might get an irs pin, put a fraud alert on your credit reports, obtain your 3 credit reports. Lock down your phone with a pin at your carrier. Get 2fa on all accounts. Open a credit karma/sesame account before freezing credit. Create a my social security account before freezing credit. Freeze chex in addition to the big 3 credit bureaus.
RetiredAL
Posts: 3513
Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: [actions to take after] Identity theft

Post by RetiredAL »

Destiple wrote: Wed Jul 28, 2021 8:17 pm
They got some funds from my chase saving account
Disputing it with chase
They said might take 2 wks
Any hope of getting it back , I notified them within 48 hrs

Got new account numbers for savings and checking
Got a new computer

Any other recs
OP - Was this a simple unauthorized transaction(s) or were your credentials compromised?
Topic Author
Destiple
Posts: 112
Joined: Tue Aug 18, 2020 11:31 am

Re: [actions to take after] Identity theft

Post by Destiple »

RetiredAL wrote: Thu Jul 29, 2021 6:25 pm
Destiple wrote: Wed Jul 28, 2021 8:17 pm
They got some funds from my chase saving account
Disputing it with chase
They said might take 2 wks
Any hope of getting it back , I notified them within 48 hrs

Got new account numbers for savings and checking
Got a new computer

Any other recs
OP - Was this a simple unauthorized transaction(s) or were your credentials compromised?
They transferred out a few thousand from my account
I’m not sure what can be worse
Hopefully chase will get them back
User avatar
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: [actions to take after] Identity theft

Post by galawdawg »

Destiple wrote: Wed Jul 28, 2021 8:17 pm [thread title edited for clarity - moderator prudent]

Anyone here had experience?

They got some funds from my chase saving account
Disputing it with chase
They said might take 2 wks
Any hope of getting it back , I notified them within 48 hrs

Got new account numbers for savings and checking
Got a new computer

Any other recs
What you describe doesn't sound like identity theft, unless there is more that you didn't mention, it seems to be an unauthorized transaction(s). The responses to each are different.

Freezing your credit (if it isn't already frozen) should be your first step whether identity theft was involved or not. (I recommend that all do that as a preventative measure).

More information would help us provide better guidance depending on whether it was simply an unauthorized transaction(s) or more widespread.

1. Have any of your other financial accounts had any suspicious or unauthorized transactions?
2. Have any new accounts been opened using your information?
3. Was any of your logon information compromised...in other words, have you found that your passwords were changed without your knowledge on any of your accounts, including email?
4. Was this activity on your Chase savings account a single transaction or multiple transactions? What does/do the transactions(s) indicate (ACH transfer, debit transaction, ATM withdrawal, etc.)?

p.s. A new computer, while nice, is almost never needed as a result of even the most involved or sophisticated cases of identity theft...
hudson
Posts: 7098
Joined: Fri Apr 06, 2007 9:15 am

Re: [actions to take after] Identity theft

Post by hudson »

Destiple wrote: Thu Jul 29, 2021 6:32 pm They transferred out a few thousand from my account
I’m not sure what can be worse
Hopefully chase will get them back
I'm trying to figure out how that could happen to me.
I have several savings accounts. Those accounts do not have access to the outside world. Funds have to first be moved to a checking account.
If someone could get into my account and do a billpay transaction, they could send funds out of my checking account.
For my checking accounts, someone could write a check.
To transfer out of a checking account, transfers are only approved to pre-approved banks or brokerages. I guess if someone got into my account, the could set that up. The would also have to have access to my emails and or texts.

Bottom Line: If I had poor security, and paid no attention to my accounts, emails, and texts, it could happen....but not from my savings accounts.
RetiredAL
Posts: 3513
Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: [actions to take after] Identity theft

Post by RetiredAL »

hudson wrote: Thu Jul 29, 2021 6:55 pm
Destiple wrote: Thu Jul 29, 2021 6:32 pm They transferred out a few thousand from my account
I’m not sure what can be worse
Hopefully chase will get them back
I'm trying to figure out how that could happen to me.
I have several savings accounts. Those accounts do not have access to the outside world. Funds have to first be moved to a checking account.
If someone could get into my account and do a billpay transaction, they could send funds out of my checking account.
For my checking accounts, someone could write a check.
To transfer out of a checking account, transfers are only approved to pre-approved banks or brokerages. I guess if someone got into my account, the could set that up. The would also have to have access to my emails and or texts.

Bottom Line: If I had poor security, and paid no attention to my accounts, emails, and texts, it could happen....but not from my savings accounts.
For many/most institutions, that thought is inaccurate. ACH's can generally be made into or out of saving accounts. Think automatic payroll deposit, fully or partially, to a savings account.
User avatar
RickBoglehead
Posts: 7852
Joined: Wed Feb 14, 2018 8:10 am
Location: In a house

Re: [actions to take after] Identity theft

Post by RickBoglehead »

RetiredAL wrote: Thu Jul 29, 2021 7:17 pm
hudson wrote: Thu Jul 29, 2021 6:55 pm
Destiple wrote: Thu Jul 29, 2021 6:32 pm They transferred out a few thousand from my account
I’m not sure what can be worse
Hopefully chase will get them back
I'm trying to figure out how that could happen to me.
I have several savings accounts. Those accounts do not have access to the outside world. Funds have to first be moved to a checking account.
If someone could get into my account and do a billpay transaction, they could send funds out of my checking account.
For my checking accounts, someone could write a check.
To transfer out of a checking account, transfers are only approved to pre-approved banks or brokerages. I guess if someone got into my account, the could set that up. The would also have to have access to my emails and or texts.

Bottom Line: If I had poor security, and paid no attention to my accounts, emails, and texts, it could happen....but not from my savings accounts.
For many/most institutions, that thought is inaccurate. ACH's can generally be made into or out of saving accounts. Think automatic payroll deposit, fully or partially, to a savings account.
Every bank account we have, including savings and CDs, is fully accessible online. Don't know where you bank, Hudson.

OP contact your homeowner's insurance company now. We have coverage, you may.
Avid user of forums on variety of interests-financial, home brewing, F-150, EV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
hudson
Posts: 7098
Joined: Fri Apr 06, 2007 9:15 am

Re: [actions to take after] Identity theft

Post by hudson »

RetiredAL and RickBogleHead,
Many thanks!
My main credit union's savings account is locked down except transfers to internal accounts...as far as I can tell.
I just checked my Penfed Savings account; it is possible to transfer to a pre-approved outside account. I couldn't see any other way to get money out of that account.

The question in my mind: How would someone steal funds from my accounts? It seems like it would be very difficult as long as I was somewhat alert.
Topic Author
Destiple
Posts: 112
Joined: Tue Aug 18, 2020 11:31 am

Re: [actions to take after] Identity theft

Post by Destiple »

hudson wrote: Thu Jul 29, 2021 8:39 pm RetiredAL and RickBogleHead,
Many thanks!
My main credit union's savings account is locked down except transfers to internal accounts...as far as I can tell.
I just checked my Penfed Savings account; it is possible to transfer to a pre-approved outside account. I couldn't see any other way to get money out of that account.

The question in my mind: How would someone steal funds from my accounts? It seems like it would be very difficult as long as I was somewhat alert.
I notified bank next Day and disputed it
How am I supposed to know they stole it until I saw my balance next day
I can’t check my account multiple times a day
RetiredAL
Posts: 3513
Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: [actions to take after] Identity theft

Post by RetiredAL »

hudson wrote: Thu Jul 29, 2021 8:39 pm RetiredAL and RickBogleHead,
Many thanks!
My main credit union's savings account is locked down except transfers to internal accounts...as far as I can tell.
I just checked my Penfed Savings account; it is possible to transfer to a pre-approved outside account. I couldn't see any other way to get money out of that account.

The question in my mind: How would someone steal funds from my accounts? It seems like it would be very difficult as long as I was somewhat alert.
I have a CU Savings account that has a debit card associated to it. So that potentially exposes it to any Visa system or card number compromise.

The OP's loss could be nothing more nefarious than an incorrectly typed in account number by a bank's/S-L's CSR with "fat fingers" doing a manual transaction.

My sister and her husband experienced True Identity Theft many years back. Someone ordered a replacement DL to get their picture on the replacement DL purporting to be BIL, who then went to their bank knowing his SS number and account numbers, and opened a new checking account, which was automatically linked via his SS to all their bank accounts. Money started moving around which BIL noticed and he contacted the bank. All these transactions had been made via a CSR in-branch. The bank had diligently made a copy of the perp's DL for their records as part of the new account opening, so it was pretty quickly discovered that the DL pictures did not match. But BIL still had get to a new DL with a new number to break the associations. That is real Identity fraud. Having an unauthorized charge not identity theft IMO.

I recently deposited a large check into my sisters account using a CSR at my branch and we, CSR and I, validated her account number by matching her name and address on the CSR's terminal so as to not deposit to the wrong account/person. Arriving home in a few minutes later, I contacted Sis who verified the deposit showed as pending.

Of note, the CSR could not directly transfer between non-linked accounts. I assume that a bank security precaution to prevent a rogue employee from transferring between dis-similar accounts. Thus I had to write a check which they could deposit.
User avatar
anon_investor
Posts: 15111
Joined: Mon Jun 03, 2019 1:43 pm

Re: [actions to take after] Identity theft

Post by anon_investor »

RickBoglehead wrote: Thu Jul 29, 2021 7:20 pm
RetiredAL wrote: Thu Jul 29, 2021 7:17 pm
hudson wrote: Thu Jul 29, 2021 6:55 pm
Destiple wrote: Thu Jul 29, 2021 6:32 pm They transferred out a few thousand from my account
I’m not sure what can be worse
Hopefully chase will get them back
I'm trying to figure out how that could happen to me.
I have several savings accounts. Those accounts do not have access to the outside world. Funds have to first be moved to a checking account.
If someone could get into my account and do a billpay transaction, they could send funds out of my checking account.
For my checking accounts, someone could write a check.
To transfer out of a checking account, transfers are only approved to pre-approved banks or brokerages. I guess if someone got into my account, the could set that up. The would also have to have access to my emails and or texts.

Bottom Line: If I had poor security, and paid no attention to my accounts, emails, and texts, it could happen....but not from my savings accounts.
For many/most institutions, that thought is inaccurate. ACH's can generally be made into or out of saving accounts. Think automatic payroll deposit, fully or partially, to a savings account.
Every bank account we have, including savings and CDs, is fully accessible online. Don't know where you bank, Hudson.

OP contact your homeowner's insurance company now. We have coverage, you may.
I feel like only my money in I Bonds at Treasury Direct is safe from hackers...
hudson
Posts: 7098
Joined: Fri Apr 06, 2007 9:15 am

Re: [actions to take after] Identity theft

Post by hudson »

Destiple wrote: Thu Jul 29, 2021 8:56 pm
hudson wrote: Thu Jul 29, 2021 8:39 pm RetiredAL and RickBogleHead,
Many thanks!
My main credit union's savings account is locked down except transfers to internal accounts...as far as I can tell.
I just checked my Penfed Savings account; it is possible to transfer to a pre-approved outside account. I couldn't see any other way to get money out of that account.

The question in my mind: How would someone steal funds from my accounts? It seems like it would be very difficult as long as I was somewhat alert.
I notified bank next Day and disputed it
How am I supposed to know they stole it until I saw my balance next day
I can’t check my account multiple times a day
Destiple,
You did the best that you could. If it happened to you, it could happen to me. I just wonder how the money got out.
User avatar
galawdawg
Posts: 5231
Joined: Thu Dec 14, 2017 11:59 am
Location: Georgia

Re: [actions to take after] Identity theft

Post by galawdawg »

Destiple wrote: Thu Jul 29, 2021 8:56 pm I notified bank next Day and disputed it
How am I supposed to know they stole it until I saw my balance next day
I can’t check my account multiple times a day
Since this single event on a single day at a single financial institution appears to be all that occurred, I don't see any indication that any "identity theft" is involved.

If the transaction is determined to be fraudulent, Chase will return your funds to you. As far as other recommendations that you asked for, in addition to placing a credit freeze, I'd suggest you review some of the internet/account security suggestions posted here: viewtopic.php?p=6114982#p6114982

Good luck.
hudson
Posts: 7098
Joined: Fri Apr 06, 2007 9:15 am

Re: [actions to take after] Identity theft

Post by hudson »

galawdawg wrote: Fri Jul 30, 2021 4:38 am
Destiple wrote: Thu Jul 29, 2021 8:56 pm I notified bank next Day and disputed it
How am I supposed to know they stole it until I saw my balance next day
I can’t check my account multiple times a day
Since this single event on a single day at a single financial institution appears to be all that occurred, I don't see any indication that any "identity theft" is involved.

If the transaction is determined to be fraudulent, Chase will return your funds to you. As far as other recommendations that you asked for, in addition to placing a credit freeze, I'd suggest you review some of the internet/account security suggestions posted here: viewtopic.php?p=6114982#p6114982

Good luck.
Great list of ways to prevent identity theft! Bookmarked. I may have to test drive Bitwarden.
anoop
Posts: 3909
Joined: Tue Mar 04, 2014 12:33 am

Re: [actions to take after] Identity theft

Post by anoop »

Any chance your password was phished?
Do you use the same password on multiple sites?
How were the funds transferred? Was it ACH or wire transfer or something else?
Post Reply