Table of Contents
Mobile Banking Apps
Banks are constantly striving to find new ways to make our banking experiences more convenient; for example, many banks allow their customers to deposit checks into their personal accounts simply by taking a photo of it on their phone. This convenience, however, comes at the price of enhanced risk for the consumer.
Depositing Checks Via Mobile Banking App
A caveat to this mobile banking capability is that it after the check is photographed and deposited, the customer is still left with the check. If the check is not disposed of properly, it is still “in play” so to speak. An employee of Bank of America, one bank that offers this service, explained, “[a]s long as the ‘live’ check is still in existence, there is a chance that it could be negotiated more times.”
CONTACT OUR EXPERIENCED VIRGINIA CYBERSECURITY ATTORNEYS
Proceed With Caution
In Arizona, a woman deposited a $1,500 check into her Bank of America account using the mobile app, but she didn’t dispose of the check properly after depositing it. Two months later $1,500 was taken from her account. When she contacted Bank of America to ask what happened, it told her that it couldn’t give her any information regarding the transaction. She investigated the matter herself and found out that someone found the check, signed the back (under her initial signature) and re-deposited it. This resulted in the money being taken out of her account long after she deposited it.
Clearly Mark Checks After Mobile Deposit
If you have any uncertainty as to what to do with a check after you deposit them via your mobile app, write “deposited” on it while it’s being processed and then rip it up or throw it to the shredder. This will prevent anyone from finding the check and re-depositing it. As to how long to keep the original check before destroying, check with your particular bank’s policies, as many of them differ as to how long they want the originals to be kept.
Questions about cybersecurity, identity theft, and your mobile banking apps?
We Are Here To Help
Starting or running a small business comes with a lot of important decisions, many with serious legal ramifications. Our Cybersecurity attorneys are here to answer your questions and help you navigate the legal side of owning a business. Whether you’re just getting started or need guidance on business structure, contracts, or compliance, we’re ready to support you. Call us today or fill out a quick form to schedule a consultation and take the next step with confidence.
For related information, visit these links
Think Twice Before Saving Passwords On Your Internet Browser
What Is Synthetic Identity Theft?
Written By Kellam T. Parks
Kellam founded what is now Parks Zeigler, PLLC in 2012 to embrace modern technologies to best serve clients. This passion for technology led to the formation of the Cybersecurity/Data Privacy practice area making the firm a leader in helping businesses protect themselves and respond to incidents. When he’s not practicing law in this area and handling high-asset divorces, Kellam manages the firm with his co-owner, Brandon Zeigler, contributes to local and state-wide Bar associations, and frequently writes and speaks to audiences across a variety of sectors and geographic locations, including nationally on the topics of Cybersecurity/Data Privacy, digital evidence, law firm management, and technology/AI.
Recent Resource Articles
