There's comfort in keeping your money in a bank or financial institution. The thought is, your money's safer there.Now a growing number of USAA members are havi
There's comfort in keeping your money in a bank or financial institution. The thought is, your money's safer there. Now a growing number of USAA members are having second thoughts; after losing thousands of dollars to bank fraud . There's comfort in keeping your money in a bank or financial institution. The thought is, your money's safer there.
Curtis Murrah lives in Georgia, where for the past 28-years he's been pleased with USAA and had been a staunch supporter of the company that provides financial services exclusively to military members and their families. Reports of similar experiences are being made by more than a dozen USAA members, who at wits end reached out to the Problem Solver, after our initial report on bank fraud.We organized a video call with those willing to share their story on camera.
"At the end, they said they didn't see any fraud," Murrah said. "The transactions was taking place in totally different states, they could see everything. They knew it wasn't me, but for some reason they said it wasn't fraud."Unexpectedly, some members we talked to say USAA asked them to fork over cash to cover negative balances on their accounts, after their money was stolen.
Months later, in December 2022, two Louisiana women were arrested in connection with the theft of more than $1 millionfrom USAA customers.A quick search, and you'll see there's the long list of complaints with the Better Business Bureau."They failed in their responsibility to take care of service members and their families," Tienda said.When asked about past problems, a spokesman said bank fraud is an unfortunate reality for financial institutions around the world.
He says the money he lost was his emergency savings. And as luck would have it, he needed it after becoming a victim of fraud.In a surprise, and disappointing move, Curtis says USAA closed his account.Investigative Reporter Darian Trotter asked, "How'd that make you feel after all of those years of dedication? It hurt me because been telling people for years, USAA, they was good," Murrah replied.
Bank Fraud Members Fraudulent Activity Financial Institution Investigation Losses Security Breaches
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'I want my money back:' USAA bank fraud victims battle for their stolen fundsSAN ANTONIO - Bank fraud is an unfortunate fact of life these days. The increase in scams isn't limited to any one bank or region. It's become a global problem.
Read more »
USAA members recount losses and broken trust amid rising bank fraud concernsSAN ANTONIO - There's comfort in keeping your money in a bank or financial institution. The thought is your money's safer there.Now a growing number of USAA mem
Read more »
USAA returns to profitability in 2023 after first loss in its 102-year historySan Antonio-based insurance giant USAA has returned to profitability, according to its 2023 annual report released Friday.
Read more »
USAA returns to profitability in 2023 after rare loss in '22San Antonio's USAA reported a profit in 2023, a year after the company posted a loss for the first time since 1923, the year after it was founded.
Read more »
Poppy Wall of Honor returns; USAA reminds Americans about true meaning of Memorial DayUSAA has brought its Poppy Wall of Honor back to the National Mall in Washington, D.C.
Read more »
USAA Bank President Paul Vincent leaving after about 3 yearsUSAA said it will conduct an executive search to find Vincent's successor. “I’m grateful for Paul’s leadership,' CEO and President Wayne Peacock said.
Read more »