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Carolyn and Wayne

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Bank Draft Scam Alert

We are receiving reports about the increased use of automatic bank drafts to separate unsuspecting consumers from their assets. All a company needs to withdraw funds from your bank account is the bank's routing number and your account number. The use of electronic funds transfer has gained in popularity over the last few years. Many people now use this method to pay mortgage payments, utility bills, tution payments, and even contributions to their favorite charity. It is a convenient method to be sure that your bills are always paid on time so that you avoid those exorbitant late charges. However, some very uncharitable people have discovered that it is remarkably easy for them to use this same method to withdraw funds from YOUR checking account.

Usually the scam starts with a very persuasive telemarketer with an offer for a credit card or other "fantastic" deal. After a few minutes you are convinced and agree to place an order or accept your "fabulous" prize. Then you are asked to read them the numbers from the bottom of your check. Once they have this information they can withdraw funds from your checking account without your signature or permission. You will not know that this money is now GONE until you reconcile your bank statement at the end of the month.

Another way of obtaining your account information is from a check that you have sent to a company that appears legitimate. The problem is that any employee with access to the records or mail can copy your check and pass along the information to an accomplice.