Suntrust/ Truist bank Fraud

Back in Oct 2021 my business had 43 falsified checks totaling $38,000.00 drawn out of my business account. Some criminal falsified our business checks and did mobile deposits in his Wells Fargo account. We have been dealing with Suntrust Fraud department since Oct 2021 and they will not help us get this resolved. We have copies of all the fake checks. Suntrust declines the fraud claim because Wells Fargo will not return the money to Suntrust.

Years ago, when I worked in a bank, we had a similar situation with one of our clients. Did it happen in October 2021 or did you report it in October 2021. Back when I was at the bank, we didn’t have electronic deposits, but a client was a McDonald franchisee and the boyfriend of one of their employees bought checks with their information on it. They also used a facsimile signature on the checks. Because they had a facsimile signature, there was nothing we could do about it and they had to eat the losses. Another situation, the “fraudster” was a relative. And we would pursue it ONLY if the customer agreed to press charges if the culprit was caught. They didn’t pursue the claim.

The issue you cite is between banks and shouldn’t delay Suntrust’s decision as to whether or not you were defrauded. For all you know, Wells may be trying collect from the fraudster before paying Suntrust.

If you not already done so, file a police report with your local police (local to your bank and the Wells Fargo bank, if different jurisdictions). You can also file a fraud report with the FBI or DOJ, and to the FTC which may handle counterfeited check fraud. Once you have some documentation of your filings, provide Suntrust with copies.

Close your existing bank account and reopen a new account, maybe using another bank. Look into whether or not the Consumer Financial Protection Bureau has any reporting mechanism that might help you. Lastly, check any of your business insurance policies to see if you may have coverage for that fraud.