WAVE 3 TV Louisville, KY | Bank Decides To Refund Money To Elderly Scam Victim

Bank Decides To Refund Money To Elderly Scam Victim

By Charla Young

(LOUISVILLE, April 14th, 2004, 6:30 p.m.) -- A Louisville woman was scammed out of $800 after giving her personal information over the phone. She thought the caller was an employee from her bank, but it wasn't. And when she called her bank to recover her cash it was too late. Desperate, she called WAVE 3 Troubleshooter Charla Young for help.

Longtime Bank One customer Norma Williams didn't question a July phone call supposedly from a bank employee. The caller told Norma Bank One was making sure it had its records correct on her account. "They said, 'do we have this right?' And they went down the numbers, and when they made a mistake, I'd correct them."

Norma immediately felt suspicious after giving out her account information over the phone, so she Bank One to have a block put on her account for two weeks. That wasn't long enough. "I found this draft made out for $399," she says, "no signature needed."

Two checks from Wachovia Bank hit her account in late August. But she didn't catch it until January, after she recovered from surgery. According to federal law and Bank One, that's much too late. "They told me that there was a statute of limitations," Norma says.

Bank One gives customers 90 days to report fraudulent activity. The financial loss was hard for Norma to take. "Eight-hundred dollars to a bank doesn't mean anything, but to me, that's what I try to save out of my Social Security."

So Norma called the Troubleshooter. "I was desperate. I didn't want to bother you, but I didn't have no one to turn to."

Bank One first stood behind its 90-day policy, but then Kentucky Retail Manager Jay wells decided his company would do "the right thing."

Norma will get her $800 back. "I was astounded," Norma says. "I was so happy."

We do applaud Bank One's efforts to go above and beyond to do a good thing for Norma Williams, but it's important to note that Bank One's 90-day limit to report unusual activity is 30 days more than federal law mandates.

You should check with your bank to find out what limitations you have, and always check your bank statements regularly.