Robert Branagh, a longtime Wells Fargo business account holder, has become the latest victim of unauthorized withdrawals and transfers totaling nearly $150,000. Despite filing a fraudulent claim immediately, he is still unable to determine who authorized the transfers. According to Nacha rules, any fraudulent Automated Clearing House (ACH) or business transfer must be reported to the bank within two business days. The first breach took place on Aug. 17 but was not noticed until Aug. 29 after a total of $149,296.48 was taken in a series of withdrawals.
A representative from the U.S. Secret Service Orlando office suggests that the account may have been tested by a potential buyer of stolen accounts as the small withdrawals suggest a test to see if the account was active. This escalated into a flurry of larger withdrawals totaling just under $150,000. Therefore, they encourage anyone with a checking or savings account to check their accounts every day and report any suspicious activity to local law enforcement or the U.S. Secret Service immediately.
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