Re: Why I now hate MS-Windows, and ATM machines

On Tue, 14 Nov 2006 12:20:30 -0600, Beowulf inscribed to the world:
I bank with Wells Fargo, but the ATM that stole my money was Citibank
(Chicago train station, 500 W Madison Street). ...

I was under the impression that if fraud takes money out of my bank
account, such as from an ATM fraud, I was protected by my bank's policy,
now I am not so sure. Check out this excerpt from
http://www.csmonitor.com/2003/0721/p15s01-wmcn.html

Kelly Quick, a compliance officer at a Los Angeles investment firm... He
says he still can't figure out how somebody used his ATM information in
January to withdraw $1,420 from his Bank of America account. The bank
credited his account for that amount, then took the money back three weeks
later, claiming that "the transactions were authorized." Mr. Quick says it
took another month of arguing with bank officials to get his money back.
Bank of America spokesman Harvey Radin declined to discuss Quick's case,
but called the bank's investigations of any such cases "thorough." But Jay
Foley, codirector of the Identity Theft Resource Center in San Diego, says
these investigations aren't thorough enough. "Basically, right now you
have X amount of days to clarify the situation with the bank, but the bank
is the one that's holding all the cards," he says. "They have the ATM
machine. They have the video machine on the ATM that recorded the
transaction. They know the time and date of the transaction. They have the
ability to look it up and see, was that you standing there or not? But
they ... expect you to prove you weren't in that town and didn't use that
ATM," he says. In 1999, the federal Office of the Comptroller of the
Currency, which oversees federal banks, received 251 complaints from bank
customers, claiming fraud investigators had mishandled their claims.
Complaints nearly tripled by 2002, the last year for which figures are
available, to 715. While that's a tiny fraction of total ATM transactions,
bank officials acknowledge they're paying attention. For one thing, they
say, most people don't even know about the Comptroller of the Currency. A
bank customer who pursues a complaint must be pretty angry, and some
banking officials are starting to urge a gentler approach with customers.
.

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