Yep!........
Posted on 01/07/2008 7:30:24 AM PST by SwinneySwitch
Account was apparently hacked
Kleberg County wants the money back that someone recently helped him or herself to by hacking into one of the county's accounts at Kleberg Bank.
During Wednesday's special session, Kleberg County Judge Pete De La Garza said he'd been in contact with bank president Joe Hinkle regarding the matter and he was only now getting around to filing a claim with the bank's insurance company.
"Kleberg Bank has been working with us on this except for getting our money back," De La Garza said.
Although De La Garza refused to divulge the amount of money drained from the county's account, Kleberg County Commissioner Romeo Lomas didn't hesitate to throw out a significant number.
"One paper said it was $300,000," Lomas said.
And, De La Garza reminded him to not believe everything he might read in newspapers.
"We have recovered some of the money, about $45,000 so far," De La Garza said. "That has been put back into our account."
The judge said county attorney Alfred Isassi will write a letter of demand to the bank to get the remainder of the money back and if that doesn't happen, then counsel will advise whether to file suit against the bank.
Isassi said the demand letter would contain a deadline of Jan. 15, 2008 to have the money returned to the county's account.
"We feel the bank has eudciary responsibility," De La Garza said. "We entrusted our money to them and for them to take care of it. I hope we can arrive at a solution without filing suit."
De La Garza said it is the job of the Texas Rangers and the FBI to investigate the case and it is his job to make sure the county gets its money back.
The county judge said the saga of the missing money was noticed about five months ago when the county treasurer observed funds missing from an account that she had the only access to.
He said the hackers, possibly overseas or offshore, would withdraw money from the county's account, ask to place it into an unsuspecting third person's private account, promise to give them 10 percent of that amount and then transfer the remainder to an account outside of the United States.
"What has been recouped so far is that 10 percent from the private accounts," De La Garza said.
If they recovered "about $45,000 so far," that means about $450,000 was missing then, Judge De La Garza!!
$300,000 is one horse on the King Ranch.
What idiot editor wrote that headline?.......
Yep!........
“We feel the bank has eudciary responsibility,”
Does this paper even have a copy editor?
LOL!!......That’s not even a word!.........I suppose they meant fiduciary.....
Does this paper even have a copy editor?......yes, but he/she is obviously not fluent in English!.............Hablamos Espanol!.....
The bank has insurance for just this eventuality and the money should have been returned immediately.
Ping!
If you want on, or off this S. Texas/Mexico ping list, please FReepMail me.
Is "unsuspecting" the correct word here or should it be "complicit." Sounds as if some "third person's" should be facing federal money laundering charges. But this is South Texas and the money probably went to Mexico so that's alright.
My daughter found out that someone had used an unauthorized ACH draft on her business account. They hit it for $40 once to see if it would work and then started regular monthly withdrawals through Wells Fargo.
When she started tracing it back, WF said they had discovered a ‘glitch’ in their system several months ago but apparently hadn’t found all the victims.
Stragely enough they claim that there is no record of an account number to which the money was directed. She did get the money refunded.
Sounds like the banking industry needs to get some new protection and controls.
Which part?
| eud·ci·ary (pronounced: "Luxury Yacht") |
| adjective 1. Something to do with a bank or other financial institution. Etymology: Laurentian from "EUD", literally "WTF?" |
Florida Panhandle, where the sane people live............
What Funky and Wagnalls did that come from?.......
OOPS! Sorry, wrong thread!..............
Had an old credit card account that was “revived” to an old address. Some checks on that account were then used at several South Texas stores(that I probably couldn’t write with valid ID) for about $1,500. Corruption is rampant!
Well now, that is the King Ranch.
I had a a few thousand stolen from my account; but the bank immediately returned it.
It seems I bought gaming equipment in Tel aviv.
I, of course, asked where were my profits since the gaming industry is known to make big profits.
Are you sure? Have you reviewed all of the bank's insurance policies? What about the county treasurer? Does he or she have any liability?
and the money should have been returned immediately.
It depends. (I take it banking law is not one of your specialties).
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