SAN 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
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 . SAN ANTONIO - There's comfort in keeping your money in a bank or financial institution. The thought is your money's safer there.
"I got my homeowners insurance with them, life insurance , car insurance. Everything with them," Murrah explained."My wife called me and she said she couldn't pay the mortgage," Murrah recounted. "There wasn't money in the account." "It's emotionally and mentally draining and offensive that they're so dismissive of the whole situation," Tienda said.Murrah says he was able to convince USAA to launch an investigation, but he says the outcome threw him for a loop.
In response, the company said "The small amount of members affected were notified and provided additional safeguards."The same year the Financial Crimes Enforcement Network slapped USAA with a combined $140 million penalty for failing to establish and maintain an effective Bank Secrecy Act Program, which federal investigators say "resulted in millions of dollars in suspicious transactions flowing through the U.S. financial system without appropriate reporting.
Bank Fraud Members Fraud Money Loss Trust Financial Institution
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