Unauthorized electronic transfers: what the bank needs to investigate

Unauthorized electronic transfers: what the bank needs to investigate Qualifications and requirements: Regulation E concerns qualifying electronic transfers from consumer accounts; identify the transaction and why you believe it was unauthorized or erroneous. A fraudster-initiated transfer without actual authority differs from a transfer the consumer authorized. Describe who initiated it and how access was obtained. Documents to prepare (confirm what is required): Statement showing the transfer; Transaction date and amount; App or bank communications; When the error was discovered and reported Exceptions and checks: A bank may not condition starting a covered error investigation on a police report; describe any requested documentation and ask about the applicable error process. Questions to ask: Who initiated and authorized the transaction?; Was this a consumer account and what transfer method was used?; When did the bank send the statement showing it? Next steps: Report directly to the bank or payment provider immediately.; Request the error-resolution instructions and written confirmation.; Keep records of reporting and any requested written follow-up. Limits: Coverage, reporting timing and liability depend on the actual facts. This does not promise reimbursement for every scam payment.