How Do Banks Investigate Fraud?

Many customers get in touch with their banks when they discover that someone else has been making unapproved purchases with their credit card. When the bank is aware of the fraud, they start investigating the unauthorised transactions. Many individuals wonder how banks conduct a fraud investigation, if it is like other types of inspection and even what type of details they need so the investigation can be successful.

If you want to speak with a qualified private investigator about how banks carry out a fraud investigation, get in touch with Private Investigator by calling on 0800 061 4397 or send an email at contact@privateinvestigator.co.uk.

Once the client to notifies the bank about the fraudulent transactions, they will be able to open a fraud investigation which is carried out by internal fraud investigators. When the bank is aware of the fraud, they will assure that your card is secure by pausing or cancelling the card and issue a new one for you if needed.

Normally, banks fraud investigations are conducted by fraud investigators who will try to discover the origin of the purchases. They will be able to obtain this information by carrying out an electronic transaction trails which will enable them to see all the purchase history. The banks need to solve the case in a maximum period of 90 days.

A bank fraud investigation might be like other types of fraud inspections as it is conducted by a fraud investigator. However, some steps may be different as it may not need surveillance and interviews if they are able to obtain all the information needed just by carrying out the electronic transaction trails.

On top of that, a bank fraud investigation may also be a bit different from other investigations when the credit card fraud comes with identity theft. So, the FBI might be triggered to investigate or help other fraud investigators to solve the case.

In order to conduct a fraud investigation, the cardholder needs to provide the bank with some details, which include the accurate amount involved in the fraudulent purchase, the date of the charge and an explanation why this is a fraudulent purchase. On top of that, the cardholder will need to confirm some personal details.

In case you wish to know more about how banks investigate fraud, contact Private Investigator on 0800 061 4397 or at contact@privateinvestigator.co.uk.