How long does it take for bank to investigate?

Under current regulations, banks take 30 to 90 days to evaluate, respond to and resolve problematic transactions. In some cases, law enforcement may receive information depending on the level of fraud and identity theft. Do banks reimburse stolen money? In general terms, banks must reimburse the stolen money to the person in case of bank fraud. This may take a few days, depending on the length of the investigation.

The only case in which your bank can deny a refund is if it believes that you have been complicit in fraudulent activity or have been negligent with the security of your bank. Bank fraud investigations are often very complex and can take months or even years. During this time, the investigation is still pending. You may be invited to be questioned on more than one occasion.

Make sure you always have a lawyer who specializes in fraud cases with you. He can then be released under investigation, meaning he hasn't been arrested, but he's still a suspect in the case. A fraud investigation can take up to 90 days and we'll let you know when it's complete. In the meantime, we may contact you for additional information.

In cases of bank fraud where individuals are attacked, banks typically follow a standard fraud process, as described below. While the bank's decision can be appealed through arbitration, the fees involved are often in the hundreds of dollars, meaning that it is rarely the right choice for most merchants. If the merchant can prove to the issuing bank that the transaction is legitimate and that the cardholder's claims are false, they can get their money back. Most banks will automatically activate this temporary credit at the start of the investigation to streamline the entire process.

Not only do merchants have to preemptively defend themselves and their customers against real fraud, but they must also fight against friendly fraud chargebacks once filed, intervening in the representation process and providing banks with evidence that they were wrong to take their customers' claims to the letter. Bank fraud is a term that applies to any criminal incident in which someone attacks a person or a bank by stealing money. Let's take a closer look at the bank fraud investigation process and evaluate everything from investigating check fraud to investigating credit card fraud. When the bank or card issuer receives all of the required documentation, they will have 30 to 90 days to evaluate the case, formulate a response and resolve the problem.

So how long does a bank fraud investigation take? Once notified of the fraud, banks take immediate steps to ensure that your card is protected, pausing or canceling it and issuing a new one if necessary. When a customer finds an unauthorized transaction, they are likely to contact their bank and initiate the chargeback process. If the bank needs more time to investigate, it may take up to 45 days, but it must at least temporarily return the funds to the cardholder's account before the 10-day deadline. In these “friendly scenarios”, a bank would not necessarily notify law enforcement that fraud has occurred, although it is at its sole discretion to do so.

For merchants, the number of highly dubious fraud reports that result in chargebacks may cause them to wonder if the bank is actually investigating fraud allegations. Since merchants are primarily responsible for the cost of returns, banks are not really encouraged to investigate fraud thoroughly or to oppose customer complaints too much. If a bank has determined that fraud has occurred and a merchant has been asked to return the money, the merchant can submit the refund to the bank, giving it an opportunity to challenge the bank's findings. .

Brock Cottew
Brock Cottew

Infuriatingly humble web expert. Typical pizza fanatic. Lifelong food lover. Amateur bacon fan. Wannabe internetaholic.