ACT Blog

Crime Victim By: Joe Ball, Publisher

Embezzled!

Our business was the victim of a new employee recently. She stole checks
from the back our checkbook … forged my name … then – – interesting is …

How she was able to have the checks cashed.

It bewildered me. And at the time wasn’t clear to our internet –experienced staff.

Even the Lower Merion police officer to whom we gave our police report was baffled.

From what I gather (don’t ask me questions. Her MO was news to me) we know she was
highly IT experienced.

We also know she watched our longtime (31 years) bookkeeper write checks. She watched
where the checkbook was secreted.

She waited until there was no one around, then removed a series of blank checks from the rear
of the checkbook.

What’s especially grievous is she used the same check #4749 – – four times. Four times! The
same check!

And the four checks, same check number, were in the same amount.

Yes, the same check . . . same check number . . . same amount . . . even same date . . . was
processed by her bank. Then again by our bank.

Some banking system!

Customer protection?

Duh!

Her flow of stolen money evidently was:

1) She forwarded the forged checks to her bank by internet

2) They deposited the money in her account.

3) Her bank sent the checks to our bank.

Same numbered check .

Same amount.

Forged signature.

They withdrew the amounts from our account.(Can you believe it?) And approved for her bank.

4) She cashed out at her bank.

There was more I’m told, but it’s over my head. All part of the new information technology.

Incidentally my bank even promotes the system . They distribute a pamphlet saying: “Bank On
The Go With Our iPhone App.”

Obviously, there was a breach of fiduciary duty (a lawyer gave me these phrases) non-diligence
and outrageous conduct by our bank.

Phase Two

Then we became victims a second time.

Our bank – – one of the largest in Philadelphia – – refused to make full restitution.

What especially hurts is we have been a customer as long as they have been in Philadelphia.
About 15 + years, I believe.

Our branch manager, a nice& accommodating lady, bucked the situation to her District
Manager.

We spoke to the District Manager . One time. Tried to follow-up. The telephone number the
district manager gave me disallowed incoming calls to her. Such Hooey.

And in this case the term B S isn’t “Bank Security”.

It’s ironic that my bank’s literature, says “We Will Earn Your Trust”.

Our Turn to Make Whole

For the record: We did provide the bank an affidavit, and copy of the police report.
We sent letters to the bank. Were they discarded? Don’t know – – but no response.

We only had one open option.

Sue the bank in small claims court.

At this writing, we have done so.

A further report to come – – if necessary.

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P.S. Note I have not mentioned the name of our bank. I have refrained as a continuing customer and a
continuing good banking citizen.