Picture this: You get a call from someone who sounds exactly like your bank. They tell you there’s suspicious activity and ask you to “confirm” your login or move money to a “safe account.”
Minutes later — your money is gone.
When you call the bank for help, they hit you with the gut punch:
“Sorry, this was your fault.”
“You gave out your info, so it’s not unauthorized.”
“Because you fell for a scam, we don’t have to pay you back.”
Wrong. Wrong. And WRONG.
The Truth: The Law Doesn’t Care if You Fell for It
Banks love to throw the word “negligence” at customers. But the Electronic Funds Transfer Act (EFTA) doesn’t use that word. What matters is whether you actually authorized the transfer.
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If a criminal tricked you into giving login info and they moved the money? That’s unauthorized.
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If someone impersonated your bank and you thought you were protecting your account? Still unauthorized.
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If fraudsters pushed the buttons — not you — you’re protected.
Why Banks Push the “It’s Your Fault” Myth
It’s simple: shifting blame saves them money. If they convince you it was your fault, they don’t have to pay you back. But federal law doesn’t let them off the hook that easily.
Don’t Confuse “Voluntary” with “Authorized”
Banks argue: “Well, you typed in your password, so it counts.” Wrong.
Authorization under EFTA means you knowingly approved the actual transfer. Fraudsters lie about what’s happening, so your so-called “consent” is meaningless.
What to Do if Your Bank Blames You
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Report the fraud immediately.
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Keep copies of all communications.
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Call a lawyer who knows EFTA inside and out.
At The Cardoza Law Corporation, we sue banks that pull this scam-blame routine. And you don’t pay us a dime unless we recover money for you.
👉 Call today. Don’t let your bank make you the villain of your own story.
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