[LeetSpeed]

Hard to say exactly. The front line reps typically submit a report and that goes over to fraud teams beyond that I'm not 100%. But I'd imagine someway or another gets sent to the feds.

Thanks for your reply!

[LOUD]

How often do you see fraud within your business?

[Tor]

As title says im a banker i work with bank accounts, certificate of deposits, and credit cards. Im fairly knowldgeable on banking regulations and budgeting that may or maynot assist you all for your personal finance questions... ask me anything.

I of course will not give out customer info or name of where i work.

Sounds like you've got some solid knowledge about banking and personal finance. I won't pry into customer info or your workplace, of course, but I've got a question: What's your best piece of advice for someone looking to improve their financial situation?

[noEsc]

what do you do for fun?

Lately I play mobile games with my spouse.

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How often do you see fraud within your business?

Quite literally everyday. It's probably half the calls I handle every day. I'd estimate I take 25-40 calls a day as well.

[Crowned]

Lately I play mobile games with my spouse.

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Quite literally everyday. It's probably half the calls I handle every day. I'd estimate I take 25-40 calls a day as well.

Since you see fraud everyday, do you mostly react to larger sums of money or even the small ones? How do I launder money without the banks noticing? 😁

[noEsc]

What's your best piece of advice for someone looking to improve their financial situation?

Improving finances tips is kind of difficult for me to be effective for that person or for you so it's hard for me to say since everyone's different. I'd be happy to give more personalized info and guidance in direct messages if you don't want your personal info public here ( I'm not selling anything but as I type this that might not be a bad idea ) and I'd be glad to help. I find educating people in finance pretty rewarding and fun.

However, understanding how credit works, and using credit cards to your advantage is so underutilized. There's a lot of people that think it's scary or dug a 'inescapable' hole but it's much easier to dig out of and benefit from it's crazy. Knowledge has huge power in credit.

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Since you see fraud everyday, do you mostly react to larger sums of money or even the small ones? How do I launder money without the banks noticing? 😁

Fraud is almost always done under 10k unless it's wire fraud. I think because I've become so accustomed to fraud it's not really the amount or volume but the situation. It's absolutely crazy the amount of people that still fall for the most basic scams... Paying the "irs" in gift cards... Or the "my social security number was hacked" and paying them in gift cards or whatever. The ones I enjoy looking at is people that think they're so slick trying to filter money through a personal account and it's actually for this business, or laundering. Some people are just so obvious.

Edited*** not answering money laundering questions. I didn't before but my answer was probably borderline. I'm not risking it.

[Crowned]

Improving finances tips is kind of difficult for me to be effective for that person or for you so it's hard for me to say since everyone's different. I'd be happy to give more personalized info and guidance in direct messages if you don't want your personal info public here ( I'm not selling anything but as I type this that might not be a bad idea ) and I'd be glad to help. I find educating people in finance pretty rewarding and fun.

However, understanding how credit works, and using credit cards to your advantage is so underutilized. There's a lot of people that think it's scary or dug a 'inescapable' hole but it's much easier to dig out of and benefit from it's crazy. Knowledge has huge power in credit.

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Fraud is almost always done under 10k unless it's wire fraud. I think because I've become so accustomed to fraud it's not really the amount or volume but the situation. It's absolutely crazy the amount of people that still fall for the most basic scams... Paying the "irs" in gift cards... Or the "my social security number was hacked" and paying them in gift cards or whatever. The ones I enjoy looking at is people that think they're so slick trying to filter money through a personal account and it's actually for this business, or laundering. Some people are just so obvious.

Edited*** not answering money laundering questions. I didn't before but my answer was probably borderline. I'm not risking it.

In which country do you work? If you do not want to answer that, at least which region? EU? NA? I completely understand your wanting to stay somewhat anonymous. As I suppose, the banking system is a bit different from country to country. From your responses, I'm guessing it's NA?
Do you see many people with horrific credit scores who are still trying to get loans or whatever else it may be?
What's the easiest/fastest way to significantly improve your credit score?

Sorry for so many questions 😁

[noEsc]

In which country do you work? If you do not want to answer that, at least which region? EU? NA? I completely understand your wanting to stay somewhat anonymous. As I suppose, the banking system is a bit different from country to country. From your responses, I'm guessing it's NA?
Do you see many people with horrific credit scores who are still trying to get loans or whatever else it may be?
What's the easiest/fastest way to significantly improve your credit score?

Sorry for so many questions 😁

I'm in US. It's the folks that think we can't see their scores and try bragging that gets me giggling. I haven't been on a team that usually takes CC applications for quite some time. I can run them but it's not my norm. However yeah I remember some people just running application after application carelessly and it's sad because I want to say something but it's strictly not allowed. You're not allowed to encourage or discourage running an application.

There's not really a quick way to just increase your score but it really depends why your score is where it is. If your score is low because of high current debt ratios then just paying that off ( if you can ) will help. But for most people that have bad scores it's because you have closed cards with negative amounts or bills in collections. Getting those off your record take lots of time and energy. Or if your score is kinda low because you don't have much history, then getting attached to someone in your family's card as an authorized user can help quite a bit as well as long as that bank will report it to the agencies.

[Immortal]

definately... FDIC only insures up to so much but thats really only if the bank fails... which they wont because feds will always bail banks out.
but some rich people really dont care because they have more money in other places so they really dont give a shit. it pisses me off to be honest.

edit: unless you mean unsafe against fraud... but at that point it doesnt matter. bank is legally obligated to refund FRAUD per regulations. but even when fraud happens theres limits in play that stop that sort of thing.

They did not bail out Svb (Silicon Valley Bank) that was 48hours and gone.

[noEsc]

They did not bail out Svb (Silicon Valley Bank) that was 48hours and gone.

What do you mean? Are you implying I said they bailed out svb? Svb wasn't really bailed out.

[Immortal]

What do you mean? Are you implying I said they bailed out svb? Svb wasn't really bailed out.

no sorry I thought I quoted when I replyed

definately... FDIC only insures up to so much but thats really only if the bank fails... which they wont because feds will always bail banks out.
but some rich people really dont care because they have more money in other places so they really dont give a shit. it pisses me off to be honest.

edit: unless you mean unsafe against fraud... but at that point it doesnt matter. bank is legally obligated to refund FRAUD per regulations. but even when fraud happens theres limits in play that stop that sort of thing.

[Laughing Man]

definately... FDIC only insures up to so much but thats really only if the bank fails... which they wont because feds will always bail banks out.
but some rich people really dont care because they have more money in other places so they really dont give a shit. it pisses me off to be honest.

edit: unless you mean unsafe against fraud... but at that point it doesnt matter. bank is legally obligated to refund FRAUD per regulations. but even when fraud happens theres limits in play that stop that sort of thing.

Gotcha, so stuff my mattresses full of $100 bills to keep it liquid but safe!

[Syndicate]

Gotcha, so stuff my mattresses full of $100 bills to keep it liquid but safe!

Wdym? He said that your money is essentially safe against fraud and theft

[Laughing Man]

Wdym? He said that your money is essentially safe against fraud and theft

Yeah but is it safe from the government.

because honestly t(-_-t) the government.

[noEsc]

Gotcha, so stuff my mattresses full of $100 bills to keep it liquid but safe!

No I mean that there's limits to how much you're money will be insured for. Having millions and millions in a single account is not a good idea. More specifically if that bank fails and the fdic steps in, you may only get 250k-500 potentially more depending on how the account is set up.

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Yeah but is it safe from the government.

because honestly t(-_-t) the government.

As much as I'm not a fan of the government either, what do you mean by safe? It's not like they're gonna just up and seize your money for no reason when they can just print it.

They do however track pretty much all transactions in this country. Even most cash transactions are tracked.