Banking cases 1
- Scenario: Emily realizes she lost her wallet containing her debit card and ID.
- Details: Emily cannot find her wallet and suspects it may have been stolen. She's worried about someone using her debit card.
Give a solution and identify the type of crime?
- Solution: Emily should immediately call her bank to report the lost debit card and request a replacement. She should also monitor her bank account for any unauthorized transactions and report them to the bank.
-Theft/pickpocketing.
Scenario: Mike discovers that someone has used his personal information to open a credit card account and make purchases in his name.
Type of Crime: Identity Theft
Solution: Mike should immediately contact the credit card company to report the fraudulent account and dispute the charges. He should also place a fraud alert on his credit report and monitor his accounts regularly for any further suspicious activity.
A machine that allows you to perform banking transactions like withdrawing cash, depositing money, or checking your balance.
ATM
Putting money into your bank account.
Deposit
- Scenario: Jessica, a college student, discovers unauthorized transactions on her bank account.
- Details: Jessica notices purchases for expensive electronics and clothing that she did not make. Additionally, she receives emails confirming account changes that she did not initiate.
Give a solution and identify the type of crime?
- Solution: Jessica should immediately contact her bank to report the unauthorized transactions and the suspected identity theft. She should request that her bank freeze her account to prevent further unauthorized activity. Jessica should also file a police report and provide any evidence or information she has regarding the fraudulent transactions.
- Crime Type: Identity Theft
- Scenario: Tom buys a gaming console from an online store, but it never arrives.
- Details: Tom pays for the console using his debit card on a website that turns out to be fake. The seller disappears after receiving payment.
Give a solution and identify the type of crime?
- Solution: Tom should contact his bank to report the fraudulent transaction and request a chargeback. He should also report the fake online shop to the authorities and avoid making purchases from unfamiliar websites in the future.
- Crime Type: Online Fraud
The amount of money in your bank account.
Account balance/balance
The person at the bank who helps you with transactions like deposits, withdrawals, and cashing checks.
Teller
- Scenario: Tom, a teenager, receives a check for an online sale he made, but it turns out to be fraudulent.
- Details: Tom sells his old smartphone online and receives a check from the buyer. He deposits the check into his bank account and sends the smartphone. Later, the bank informs Tom that the check was counterfeit, and the funds have been deducted from his account.
Give a solution and identify the type of crime?
- Solution: Tom should immediately contact his bank to inform them of the fraudulent check and request assistance in resolving the issue. He should also cease communication with the buyer and avoid depositing any additional checks from them. Tom should file a police report and provide any relevant information or evidence, such as emails or messages exchanged with the buyer.
- Crime Type: Check Fraud/Fraud
Scenario: Lily receives an email with a link claiming to be from her bank, stating that she needs to update her account information urgently or her account will be suspended.
Type of Crime: Online Fraud
Solution: Lily should not click on the link or provide any personal information. Instead, she should independently visit her bank's official website by typing the URL into her browser or contacting the bank directly to verify the authenticity of the email.
Money paid by the bank for keeping your money in your account or money you pay for borrowing from the bank.
Interest
A bank account for saving money. Typically earns interest, but may have limits on withdrawals.
Savings account
Scenario: Alex notices that someone has been accessing his online banking account and transferring money to an unknown account without his permission.
Type of Crime: Cybercrime
Solution: Alex should immediately contact his bank to report the unauthorized access and request to freeze his online banking account. He should also change his login credentials (password, security questions) to prevent further unauthorized access. The bank will investigate the issue and may refund any stolen funds.
- Scenario: Maria, a teenager, discovers unauthorized charges on her debit card after using an ATM.
- Details: Maria notices unusual transactions on her bank statement after using an ATM at a convenience store. Upon investigation, it is revealed that a skimming device was installed on the ATM, capturing her card information.
- Solution: Maria should immediately contact her bank to report the unauthorized transactions and request a replacement card. She should also inform the store manager about the skimming device and advise them to check their ATM for any suspicious attachments. Maria should monitor her account closely for any further unauthorized activity and consider setting up alerts for account transactions.
- Crime Type: Card Skimming
A document from the bank that shows all the transactions made on your account within a certain period.
Statement
A card linked to your bank account that allows you to make purchases and withdraw cash.
Debit card
- Scenario: Kevin, a student treasurer of a school club, discovers discrepancies in the club's bank account.
- Details: Kevin notices large withdrawals and unauthorized transactions from the club's bank account. Upon further investigation, he discovers that the funds were misappropriated by a former club member who had access to the account.
Give a solution and identify the type of crime?
- Solution: Kevin should immediately report the embezzlement to the school administration and the authorities, providing evidence of the unauthorized transactions. He should also notify the bank and request that the account be frozen to prevent further losses. Kevin should cooperate with the investigation and work with the school administration to implement stricter financial controls and oversight to prevent similar incidents in the future.
- Crime Type: Embezzlement
Scenario: Tom receives a check in the mail from an unknown sender, claiming that he has won a prize. The check looks legitimate but Tom is suspicious.
Type of Crime: Counterfeit
Solution: Tom should not deposit the check or provide any personal information. He should take the check to his bank and ask them to verify its authenticity. Often, such checks are part of a scam to steal money from unsuspecting victims.
When you spend more money than you have in your account, the bank may cover the difference, but they may charge you a fee.
Overdraft
A bank account that lets you easily deposit and withdraw money for everyday expenses. Often comes with a debit card and may or may not earn interest.
Checking account