Bank Scam: Why isn't the bank liable for ID Theft?
 

When somebody walks into a bank, pulls a gun, and robs them, the Bank is liable. You don't get a letter from the bank saying "We had a bank robbery last week, sorry, your money is gone."

So when the criminal uses technology to rob the bank, why is the consumer liable?

As with the gun robbery, the bank didn't have the security to block the theft. With the technological crime, ID Theft, the Bank still does not have the security to block the theft, So, why in the hell does the consumer have to cover the loss?

It makes no sense at all. ID Theft is the bank's problem, not the consumer's.

The bank simply can't afford to protect it's accounts, so it uses the consumer to pay for it.

I've never had funds removed via ID theft, but if it happens one day, I will sue the bank for making me liable for the theft and hold them responsible for my funds that I deposited in their bank. It's just that simple.

It's absurd how the bank system has turned the criminal act around, and now it's the consumer's fault their ID was stolen and money was illegal removed from their account.
With that logic, it's also our fault the man had a gun and stole money from the bank.

The bank is liable for all the deposits and if they are illegally removed via by gun or by technology, without the knowledge of the consumer IT IS THE BANK'S FAULT, NOT THE CONSUMERS. The bank was robbed, not the consumer.

That is why we pay fees to the bank to begin with. To hold our money safe and securely...we don't pay the bank to one day hear: "sorry, we were robbed last week and your money was stolen."

How did everything get so turned around? Consumers pay banks millions in fees annually and the bank isn't liable to protect our deposits? That is the first and foremost act they are supposed to do. Protect our money. It's insane the public has forgotten that basic principal and allows the banks to hold us responsible for a job they no longer know how to do.

Not sure what you are talking about. Your money is protected.

Same in my country, bank secured all accounts with CC upto 1000eur so , even if they got info and use it, they cant cash 1000eur that fast to not be detected... not sure if they use to buy something over net, i guess they charge back that.

The fuck are you talking about? I have fraud protection on my bank accounts as well as my credit cards. It doesn't cost me a dime either. I'm guessing you are in some third world country or something?

Never heard of a bank that doesnt cover that sort of thing.

gfy misguided rant #20165

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All my credit cards and money are protected max of 200,000. I think it's this way for everyone. All banks. maybe you are in a 3rd world country?

I've been ripped off 2 or 3 times...and Chase always covered it. What shit are you talking about? Do you have an account at Bob's Bank?

If that is true, you now know about it. If you keep your money in that bank and someone takes it it's your problem.

Venus Blogger back in form :thumbsup

You don't even have a bank account

Odd responses. I personally know 2 people that have lost money from ID theft from 2 different major US banks.

I had someone from Arizona start to use my Sun-Trust debit card number. Fraud prevention shut them down after about $900 worth of charges. Every penny was refunded.

I was a victim of identity theft about 10 years ago. The guy ran up about $40K in bounced checks and credit lines before he was caught. I was out some money because I had to hire a lawyer to shut down a couple of asshole companies that tried to sue me even after the guy was caught, but the bank returned all of the lost money and everything was handled pretty well. Things have only gotten better as far as ID theft protection since.

There may be more to your friend's situations then they are letting on.