Where do you turn for assistance with debit card fraud?

Answered by:

Question:

Where do you turn for assistance in debit card fraud? Where do you report it, and who can help prevent it?

Answer:

Answer by Andy Zavoina:

You would report it to local law enforcement. A SAR could be required which takes it to a higher level.

But the most important thing is to educate your customers. You will always be victim to some claims, real and bogus, but consumer education is the key to controlling these losses.

Answer:

Answer by Mary Beth Guard:

You might also want to review the operating rules for your debit card issuer to determine whether there is a duty to report to them.

At the federal level, the jurisdiction of the Secret Service includes bank fraud, access device fraud involving credit and debit cards, and electronic funds transfer fraud. They have the responsibility for doing the investigation and they have some good information on their Web site to help you educate your customers.

First published on BankersOnline.com 3/4/02