In recent news, Robert Branagh, a long-time Wells Fargo business account holder, has become the latest victim of unauthorized withdrawals and transfers totaling just under $150,000. Despite filing a fraudulent claim immediately after discovering the illegal transfers, Branagh remains frustrated and confused as to who authorized the transactions.

According to Nacha rules, any fraudulent Automated Clearing House (ACH) or business transfer must be reported to the bank within two business days. Unfortunately, the first breach occurred on Aug. 17 but was not noticed until Aug. 29 when a total of $149,296.48 had been taken in a series of withdrawals. Records indicate that a final withdrawal of $10,000 was taken out of Branagh’s business account on Aug. 28 and $530 dollars were taken out of his daughter’s account on Aug. 29.

A representative from the U.S. Secret Service Orlando office believes that the account may have been tested by a potential buyer of stolen accounts due to the small withdrawals suggesting a test to see if the account was active before escalating into larger withdrawals totaling just under $150,000. Therefore, they encourage everyone with a checking or savings account to check their accounts every day and report any suspicious activity immediately to local law enforcement or the U.S

By Editor

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