Unauthorized ATM charges are more than just an inconvenience. For many, they’re a wake-up call that something has gone terribly wrong, either with the security of their financial information or the integrity of the financial institutions they rely on. At Feferman, Warren & Mattison, we help individuals in Albuquerque and across New Mexico recover stolen funds and hold banks accountable when they fail to protect or reimburse consumers as required by law. Continue reading and contact our seasoned New Mexico consumer lawyers today.
An unauthorized ATM charge occurs when money is withdrawn from your bank account without your permission. These charges can appear suddenly and often without explanation. You may have had your card physically stolen, or your card number and PIN could have been compromised without you even knowing. Sometimes the charge is the result of identity theft. Other times, it could be a case of a family member, employee, or even a stranger gaining access to your account fraudulently.
ATM fraud can happen in a number of ways. Skimming devices are frequently used to capture card data when a consumer uses an ATM. Hidden cameras may also be installed near the machine to record PIN entries. In some cases, your data may have been stolen through a data breach or phishing scam. Criminals then use this information to create counterfeit cards or conduct transactions online and at ATMs.
Even more concerning, some consumers find themselves victims of inside jobs, where bank employees or those with access to sensitive systems participate in fraud or overlook it. Regardless of how the fraud occurred, you have rights under both federal and New Mexico consumer protection laws, and you may be entitled to reimbursement.
Under the Electronic Fund Transfer Act (EFTA), financial institutions are required to investigate claims of unauthorized charges and, in many cases, must reimburse the consumer. However, your ability to recover funds often depends on how quickly you report the issue and whether the bank follows proper procedures.
First and foremost, act quickly. Time is critical in cases of ATM fraud. Under the EFTA, you have 60 days from the date the bank sent you the statement containing the unauthorized transaction to notify them. If you wait too long, the bank ‘s liability may be limited.
Start by reviewing your bank statements and recent transactions. If you see anything you don’t recognize, even if the amount seems small, contact your bank immediately. File a written report through their fraud department and request a written confirmation that you’ve done so. It’s very important to make your dispute in writing, preferably by certified mail, so there is a record of your communication. In addition to reporting the fraud to your bank, consider taking the following steps:
While banks are required to conduct a “reasonable” investigation into the fraud, in reality, some do little more than perform a cursory review before denying a claim. That’s when legal representation may become necessary.
Finding mysterious withdrawals or unfamiliar transactions on your bank statement can be alarming. Even a small charge can signal something larger, such as a stolen card, a data breach, or a deeper pattern of financial fraud. When this happens, you have rights under federal law, and acting promptly can make a real difference in protecting your money and your credit.
The EFTA gives consumers the right to dispute unauthorized transactions, but it also sets strict deadlines. In general, banks must be notified within a certain period after the statement containing the unauthorized withdrawal is issued. Missing that window can affect whether the bank is legally required to reimburse your losses. Our firm helps clients understand these time limits, file proper notices, and ensure that their rights are preserved.
When unauthorized ATM withdrawals occur, most banks are required to open an investigation and determine whether the transaction was truly authorized. Federal law requires that investigation to be “reasonable,” but in practice, some financial institutions do little more than a surface review before denying valid claims. Our attorneys hold banks accountable when they fail to conduct meaningful investigations or when they refuse to reimburse customers for losses they are legally entitled to recover.
Every case of ATM fraud leaves a paper trail, such as transaction records, communications with bank representatives, and correspondence related to disputed charges. Proper documentation is often what determines whether a claim succeeds or fails. Our firm helps clients assemble and preserve this evidence so that it can be used effectively in negotiations or litigation.
In many cases, it is also appropriate to notify law enforcement or file a formal identity theft report through the Federal Trade Commission (FTC), which tracks national fraud trends. These reports can strengthen a legal claim and support future disputes with creditors.
While it’s possible to start the process on your own, many victims of ATM fraud find that banks are slow to respond or dismiss their claims without proper review. Our firm can step in to ensure compliance with the EFTA and related consumer protection laws. We work to recover funds, correct account errors, and, when necessary, pursue damages for financial institutions that ignore their legal obligations.
If your bank won’t take you seriously, we will. Contact the consumer protection lawyers at Feferman, Warren & Mattison today to schedule a consultation about your unauthorized ATM charges. We’re here to ensure you’re treated fairly and that your money is returned, because when financial institutions fail, someone must hold them accountable.
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