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Bank Fraud and Negligence

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Bank Refuse to Credit you for Fraudulent Charges or Debits

Did Your Bank Refuse to Refund You for Fraudulent Charges Due to a Security Breach?

Every year billions of dollars are lost to fraud. Many times, the fraud is a result of a financial institution’s own security failures or data breaches. If your bank refused to refund fraudulent charges that were caused by a security breach, you might be able to file a legal claim. 

Individuals are strongly encouraged to contact Levin Law, P.A. (“Levin Law”) if their bank failed to credit their account after an unauthorized transaction caused by a security failure. Our lawyers can help you understand your rights and will work hard to ensure that you receive the best possible outcome in your case. 

Contact Levin Law founder and managing partner Brian Levin today at (305) 402-9050 or via email at to schedule a free case evaluation. 

What to Do About Fraudulent Charges

The steps that you take immediately after you discover fraudulent charges on your account can directly impact your rights. It is imperative to remain vigilant about your financial accounts and to monitor them frequently. Fraud is a billion-dollar industry that has cost some victims their entire life savings. Reporting unauthorized access is often critical to obtaining a refund from your financial institution.

If you discover fraud on your account, you may want to:

  • Report the fraud immediately to your bank. Most financial institutions have a fraud department where you can report and dispute unauthorized activity. Be sure to put it in writing and document anyone that you speak to regarding the charges.
  • File a report. If you were the victim of identity theft, you can report it to the Federal Trade Commission (FTC) and the Federal Bureau of Investigation at Internet Crime Complaint Center(IC3) | File a Complaint. Document everything that you submit regarding the fraud. The more evidence you can provide to your bank, the stronger your case will be. You should also place a freeze on your accounts and with the major credit bureaus. A bad actor who has gained illegal access to your account may be able to access additional information or open new accounts.
  • Submit a complaint. If your bank does not conduct an investigation or refuses to refund the money, you can submit a complaint to the Consumer Financial Protection Bureau (CFPB)
  • Contact an attorney. It is in your best interest to consult with an attorney as soon as possible. An attorney can help determine all of your legal options.  

It is important to understand your rights and to take the necessary steps to protect yourself after a data breach or security failure results in fraudulent activity in your account. Failing to act quickly can directly impact your right to recovery.

Protections for Consumer Fraud

There are a number of federal agencies and laws that protect consumers in the event of fraud. Banks and other financial institutions are governed by these regulations and must adhere to them. Failure to comply with these laws can result in penalties. 

Consumer fraud protections include the:

  • Consumer Financial Protection Bureau (CFPB)
  • Electronic Fund Transfer Act (EFTA) and Regulation E
  • Fair Credit Billing Act (fraudulent credit card transactions)

These are only a few of the many agencies and laws that may offer protection in the event that your accounts have been accessed fraudulently. To learn more about how these agencies and laws may apply to your claim, you need to speak with an attorney. 

Understanding the Electronic Fund Transfer Act (EFTA)

The Electronic Fund Transfer Act (EFTA) protects consumers who engage in the electronic transfer of funds. This Act applies in most cases since the vast majority of transactions are completed electronically. The EFTA requires that consumers who find an unauthorized electronic fund transfer (EFT) must notify the financial institution promptly of the fraud. 

Generally, a consumer must notify their bank within two business days of learning of the “loss or theft of access device.” The longer that you wait to notify the financial institution of the fraud, the more liability you will have. In order to determine what you may be responsible for after fraud is discovered on your account, you need to speak with an attorney. 

In addition to placing requirements on the consumer to notify a financial institution of unauthorized access, the EFTA also requires the bank to take several steps to resolve the error. Foremost, the bank must promptly investigate the alleged error. The investigation must be completed within ten business days, and a report of the results must be provided within three business days of the completion to the consumer. 

Banks and the Requirement to Refund

While a bank does not automatically have the requirement to refund, it must follow federal rules and regulations. Failure to comply with the EFTA and other laws may result in penalties. If your bank refused to refund fraudulent charges that were the result of a security breach, you need to speak with an attorney. 

Contact Levin Law, P.A. for a Free Case Evaluation

Aggrieved consumers are strongly encouraged to call Levin Law, P.A. to schedule a free case evaluation. Contact Levin Law founder and managing partner Brian Levin today at (305) 402-9050 or via email at

Most cases are handled on a contingency fee basis, meaning that clients are not required to pay Levin Law attorney’s fees unless money is recovered on their behalf.

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