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Current Events > Uh wtf? Someone wired $48k to my account.

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Kaiganeer
07/07/23 12:24:54 AM
#51:


Punished_Blinx posted...
{text}
tl;dr it's your money now TC!
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Returning_CEmen
07/07/23 12:27:02 AM
#52:


Spend it all on Bitcoin and move to Columbia

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pegusus123456
07/07/23 12:27:31 AM
#53:


littlebro07 posted...
41k? The fuck?

is that counting 401ks and shit like that?

my wife and I have like $9k cash in the bank and I thought that we were doing pretty good lol

Forest_Temple posted...
I'm poor
If I remember indignant reddit comments correctly, this is why "average household" isn't a good metric for financial stuff. People like Ol' Musky who could have several hundred million in savings completely fuck the average. The median is a more accurate picture and that's $5300.

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xGhostchantx
07/07/23 12:35:11 AM
#54:


Punished_Blinx posted...
I work for a bank in Australia and it can go down a few ways.

If we receive a claim as a Mistaken Internet Payment (which is supposed to be for cases like a typo for example) we can place a hold on the funds (if they're still in the account) and make the customer provide evidence that it was intended for them. If they don't reply we are able to return the funds. Depending on how quick we receive the MIP there are different timeframes for responses and the like.

However! If the customer has completely withdrawn the funds it's too bad. We just send a letter asking for them to pay it back. There's no real legal recourse we can take and there's nothing we can really do.

Alternatively we can receive a recall request. This is basically just a request from another bank asking for a return of funds. This relies solely on the beneficiary approving it. They are in no obligation to accept or provide evidence for anything.

In both scenarios we aren't able to give the person who sent the money any information about the account they sent it to due to privacy laws.

Obviously scam cases have different actions that can be taken like completely freezing the account. I'm referring to actual mistaken payments.

Overall most of this stuff goes by the honor system. At the end of the day it's the responsibility of the person who sent the funds to ensure the details they have entered are valid. We can try our best to fix it but there's not as much authority as most people probably expect. The letters give the impression of authority but it doesn't really exist.

I'm sure there are some differences in the US but it's probably pretty similar.

Yeah, I used to work for NAB. Our CEO cut sick at me and complained to my boss because the dickhead stated his own DOB wrong on a recorded call so I had to lock him out.

"Do you know who I am?"

yes, yes I do know who you are Andrew but I also know what KYC is and so do you. Thankfully my TL backed me up on it.

Surprisingly, I never had a single issue when having to call the people who'd received deposits incorrectly, they were always happy to have it debited out.

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Phenomenal_one
07/07/23 12:39:01 AM
#55:


EmilyTheCEman posted...
TC is sneak bragging about normally having $50,000 in his bank account.

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DarkFists
07/07/23 12:49:28 AM
#56:


Tagging because I really am curious to see what happened haha

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omniryu
07/07/23 1:03:34 AM
#57:


TC what are you doing? I gave you that money to deal With Dirty Tony Gobali? Not to run on gamefaqs. MAMA MIA!

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VampireCoyote
07/07/23 1:06:47 AM
#58:


You had better not give me $2000 of it

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MARlO
07/07/23 1:47:31 AM
#59:


Kimbos_Egg posted...
its mine, give it back.
Then why did you send it in the first place? Next time keep better track of your money!

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GuerrillaSoldier
07/07/23 1:49:09 AM
#60:


burns112233 posted...
The Nigerian Prince finally came through.
my first thought

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GuerillaGorilla
07/07/23 2:33:09 AM
#61:


Stealth brag topic?

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Sexypwnstar
07/07/23 2:37:02 AM
#62:


Shoot it to your high interest savings and collect on it until it is resolved

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IdiotMachine
07/07/23 9:46:21 AM
#63:


Spent about 30 minutes with a banker and he traced the money back to Vanguard Securities. Its legit and was sent to me by name.

I have a scheduled call with Vanguard today at 1pm to figure out wtf.

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DarkFists
07/07/23 9:47:11 AM
#64:


IdiotMachine posted...
Spent about 30 minutes with a banker and he traced the money back to Vanguard Securities. Its legit and was sent to me by name.

I have a scheduled call with Vanguard today at 1pm to figure out wtf.
People might be right about it being related to the person who was using your SSN then

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#65
Post #65 was unavailable or deleted.
Tora_Sami
07/07/23 9:51:02 AM
#66:


[LFAQs-redacted-quote]


This happened to me when I was like 19 with Washington mutual. I accidently gave the wrong account number and they put my check into the wrong account. This was on a long weekend. So I had to wait three days to get it corrected. They just took the money out of the other person's account and then put it back into my account. It was a pretty simple transaction. Though the bak teller was pissed at me, as they were rather new. But they just got a manager and they fixed it for me.

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DKBananaSlamma
07/07/23 9:51:19 AM
#67:


IdiotMachine posted...
Good point. I didnt make that connection at all. Vanguard reached out to me today and told me they got the other fraudulent account cancelled after they received my IRS form W9 this past Monday, and we set up an account over the phone and I linked my bank to it.

I wonder if this is from Vanguard and from the guy who stole my SSN
He's just trying to hook you up with a retirement account and some spending money, dawg

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MARlO
07/07/23 9:52:56 AM
#68:


IdiotMachine posted...
Spent about 30 minutes with a banker and he traced the money back to Vanguard Securities. Its legit and was sent to me by name.

I have a scheduled call with Vanguard today at 1pm to figure out wtf.
Ay yo, tell Vanguard to holla at your boy next!

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PraetorXyn
07/07/23 9:54:37 AM
#69:


MARlO posted...
Ay yo, tell Vanguard to holla at your boy next!
This.

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MasterEdge1
07/07/23 9:57:13 AM
#70:


Could have been someone taking out a loan from Vanguard. If you said someone stole your identity they could be attempting to take out loans in your name.
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PokemonExpert44
07/07/23 9:59:21 AM
#71:


TC got scammed.

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bluezero
07/07/23 10:02:13 AM
#72:


PokemonExpert44 posted...
TC got scammed.
Explain what the scam is, given the information so far.

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TaylorHeinicke
07/07/23 10:06:08 AM
#73:


Update

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#74
Post #74 was unavailable or deleted.
Tyranthraxus
07/07/23 10:15:10 AM
#75:


pnut027 posted...
Thats an advance fee scam.The money shows up in your account before if actually clears. Then when you send the money back, the initial transfer bounces and what you send back is deducted from your account.

This isn't possible with wire transfers. Banks won't allow you to wire pending funds.

It's most likely an error and the bank will just reverse the transaction.

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Tyranthraxus
07/07/23 10:17:22 AM
#76:


MARlO posted...
Ay yo, tell Vanguard to holla at your boy next!

Vanguard manages my 401k. Maybe they had to close an account for some reason and automatically refunded the money.

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PokemonExpert44
07/07/23 10:19:50 AM
#77:


bluezero posted...
Explain what the scam is, given the information so far.
Okay maybe not.

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NatsuSama
07/07/23 10:19:52 AM
#78:


CYOA and report that money immediately.

As for the possible scam, I dont know all the full details. But it has something to do with someone wiring cash to you, to quickly ask for it back. The trick involves the money and its opening status. While the transfer is pending, that money isn't officially in your bank yet which allows the person who sent that money to cancel the transaction.

So say you "send that money back" you are actually sending YOUR money to the scammer, and NOT actually returning the money that was sent to you.

In the end, not only do you lose the money that was sent to you, but also you lose YOUR money. Same applies to any platform, like CashApp, Venmo, etc.

The tldr here is always tell the person who wants the money returned to go talk to their bank. You should not ever send or "return" the money. Also with that crazy amount deposited to your account (assuming this is a real story), report that shit. I wouldn't fuck around with that kind of money being dumped randomly in your account.

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Eat_More_Beef
07/07/23 10:26:35 AM
#79:


Tagging this topic for results. I'm invested in the outcome now.

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Requiem
07/07/23 10:36:27 AM
#80:


Such a strange thing.
If this was a scam, wouldn't the guy who sent the money have contacted by now to have the money "sent back"?

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#81
Post #81 was unavailable or deleted.
BunkerBoy
07/07/23 11:01:48 AM
#82:


[LFAQs-redacted-quote]

It's not an amount to brag about. Think that's all Gob meant
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Giant_Aspirin
07/07/23 11:06:02 AM
#83:


tag for result

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Alteres
07/07/23 2:25:58 PM
#84:


Someone had opened investment accounts with TCs SSN in a previous topic and those accounts had non-zero balances.

This is supposedly vanguard transferring those account balances to the proper owner of the SSN. God knows where the money came from.

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Bandit_Keith
07/07/23 2:28:15 PM
#85:


IdiotMachine posted...
Spent about 30 minutes with a banker and he traced the money back to Vanguard Securities. Its legit and was sent to me by name.

I have a scheduled call with Vanguard today at 1pm to figure out wtf.
I mean, it was your SSN, so I guess they figured it's technically your money.

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IdiotMachine
07/07/23 2:54:39 PM
#86:


Alright so spent over an hour with Vanguard on the phone. Once they confirmed with the IRS I am who I am, they closed the other fraudulent account, liquidated their assets, and sent them to my registered bank account. After speaking with their fraud department, the money is mine, and I do not have to return any of it or anything.

I asked if this is considered income and whatnot, and the answer is yes; they will be sending me a tax form and such. No taxes were withheld.

Wow

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#87
Post #87 was unavailable or deleted.
Revelation34
07/07/23 2:57:06 PM
#88:


IdiotMachine posted...
Alright so spent over an hour with Vanguard on the phone. Once they confirmed with the IRS I am who I am, they closed the other fraudulent account, liquidated their assets, and sent them to my registered bank account. After speaking with their fraud department, the money is mine, and I do not have to return any of it or anything.

I asked if this is considered income and whatnot, and the answer is yes; they will be sending me a tax form and such. No taxes were withheld.

Wow


You should now reinvest it after the taxes are paid on it.

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Tyranthraxus
07/07/23 2:57:08 PM
#89:


IdiotMachine posted...
Alright so spent over an hour with Vanguard on the phone. Once they confirmed with the IRS I am who I am, they closed the other fraudulent account, liquidated their assets, and sent them to my registered bank account. After speaking with their fraud department, the money is mine, and I do not have to return any of it or anything.

I asked if this is considered income and whatnot, and the answer is yes; they will be sending me a tax form and such. No taxes were withheld.

Wow

Bruh.

Congrats.

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greenjeans
07/07/23 2:57:11 PM
#90:


Fuck yeah
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Alucard188
07/07/23 2:58:51 PM
#91:


So, what? Someone opened up a fraudulent investment account with the same company you have your securities with? Your details and everything? The company has to be big, yeah? Wonder how many more people had fraudulent investment accounts opened up at Vanguard. Find some more information out, and maybe get some investigative journalism going. This is something that shouldn't be happening.

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Starks
07/07/23 2:59:00 PM
#92:


"Bank error in your favor, collect 48k"

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Makeveli_lives
07/07/23 2:59:21 PM
#93:


Not reading the entire topic but what if he were to put it in a high yield savings account? Seems like this would take a month or two to resolve the paperwork and confirm things and such so could he do that and make a couple hundred in interest and just return the money wired to him in full?

Or would that break some laws?

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#94
Post #94 was unavailable or deleted.
PraetorXyn
07/07/23 3:00:40 PM
#95:


IdiotMachine posted...
Alright so spent over an hour with Vanguard on the phone. Once they confirmed with the IRS I am who I am, they closed the other fraudulent account, liquidated their assets, and sent them to my registered bank account. After speaking with their fraud department, the money is mine, and I do not have to return any of it or anything.

I asked if this is considered income and whatnot, and the answer is yes; they will be sending me a tax form and such. No taxes were withheld.

Wow
Congrats. Wealthfront just came out with a new Bonds account that would be a good safe option for investing it, or you could use some to open a Roth IRA with them, theyve done a great job with mine.

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Tyranthraxus
07/07/23 3:00:53 PM
#96:


Starks posted...
"Bank error in your favor, collect 48k"
This wasn't really a bank error though. This was a dude attempted fraud and failed miserably.

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Starks
07/07/23 3:01:10 PM
#97:


Just leave the money in a money market fund until you figure out what to do with it. Should be able to earn 4.x percent if the 7-day yields continue to be great.

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Gritty
07/07/23 3:02:16 PM
#98:


I wonder if they can trace who committed fraud
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HudGard
07/07/23 3:02:50 PM
#99:


Imagine the surprised Pikachu face when someone steals an identity and that identity gets the assets.

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Bandit_Keith
07/07/23 3:03:48 PM
#100:


Alucard188 posted...
So, what? Someone opened up a fraudulent investment account with the same company you have your securities with? Your details and everything?

[LFAQs-redacted-quote]

Not exactly.

Someone opened up Vanguard account with their own information, but their SSN was TCs. As I mentioned in that topic, some people don't even know that they are illegals and have a fake SSN. Not saying that is the exact case here, but I know someone who was in that situation.

Anyway, TC went to open up a Vanguard account and they said there was already an account in their system with the same SSN, but different personal information.

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