I have a fraud charge on my credit card of 125$?

Question

the bank has canceled the debit card and reissued me a new one and credited me the $125. After doing so, i was wondering if a bank would really investigate the charge, as they may be paying more for the investigation of 125 . I am wonder up to what amount do they write off as a lost and not investigate.

Update:

i asked because I have two people in mind who may have used the card, but i am just assuming, so wonder if they were going to send me some paperwork with signature

Anonymous · Accepted Answer

If they do investigate the bank would not send you any paperwork.

? · Answer

First off, strictly speaking, this is most likely to be a stolen credit card (i.e., fraud) rather than money laundering. You do NOT benefit from fraud, because when the cardholder notices the charges, they'll call up their bank and issue a chargeback. The $488.15 in your account will actually be removed and given back to the original cardholders. In addition, each fraudulent charge carries a $15-$25 fee

kay0467 · Answer

They will probably do a mini investigation, meaning not dig real deep, but look at signatures, etc.  If they find that it was you or an authorized user, then they will reverse the credit.   If they find it wasn't you, I wouldn't fret.  Banks are almost all FDIC insured plus they have additional insurance to cover things like this, so that they are not at a loss either.

Scott · Answer

Miami - did you ask these two people if they did the transactions?  If so that is not fraud.  They investigate it to see if you authorized the transactions.  If you have authorized users on your account, the bank may verify it was one of them and put the charge back onto your account.  

Most banks nowadays will investigate the charges and give a temporary credit of the disputed transactions.  They will verify it you authorized them, and if so they put them back onto your account.

Joakim · Answer

It's in their interest to investige fraudulent charges to prevent them in the future by identifying weaknesses in their security. It's not uncommon for hackers to exploit a bank, let them know about Tue exploit and then get hired by the bank to further improve security.

Ryan M · Answer

They aren't going to spend thousands of dollars to investigate a chump change loss.

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I have a fraud charge on my credit card of 125$?

6 Answers