I Appreciate our Bank's Fraud Protection Group

Recently, our bank seems very diligent about protecting customers from fraudulent transactions.  Here are some recent actions that give me confidence I am being protected.

• My partnership in commercial real estate property recently changed management firms.  When the distribution check was issued, my bank flagged it as a potentially fraudulent check.  The reason was my bank was unable to contact the issuer of the check to confirm legitimacy. 
  
  The scam they were protecting me from was one where the check issuer pays more than requested and requests a refund of the difference.  The recipient pays the difference with a personal check.  In the meantime, the original check bounces and the recipient loses the difference.
  
  Although it took a week to resolve and the funds were deemed no available, I appreciated that my bank was watching out for me.
  
  
• Recently, one of our brokerage accounts made a legitimate small deposit.   Our bank flagged it as a potential scam to link our account to a scammers bank account.   The deposit was legitimate and there was no issue.

Although there was no issue with either transaction, I appreciate our bank erring on the side of caution to protect our deposited funds.

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This is not financial nor banking  advice. Please consult a professional advisor.

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