Mobile Deposit Scam Leaves Victims Repaying Bank

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Kentucky Attorney General Andy Beshear’s office has issued a new scam warning after a mobile deposit scam cost one Kentuckian $10,000.

The Franklin County resident provided her bank account information online to what appeared to be a legitimate bank. She was depositing a 10-thousand-dollar personal loan. The so-called lender claimed there was an issue with the deposit and the money needed to be returned and reissued.

After sending the money back using an untraceable method of payment, the victim’s bank detected that the loan check was counterfeit and the victim was stuck repaying the bank. The Attorney General’s Office says that until the bank confirms that funds from a check you deposit have cleared, you are responsible for any funds withdrawn against that check. Even if the funds appear to be immediately available, that doesn’t mean the check is good.

The Attorney General’s office advises verifying checks and loans before depositing them, and never using untraceable methods of payment.