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WaMu Gave Grandma's Money to Crooks

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New York Times Reporting on ICT

The article appeared on May 21, 2007.

click here for more info

Wednesday, April 18, 2007
Update
Haven't touched this blog in a while, but got an interesting comment today (if legit, which I think it is.) The comment by Fred is also worth a look. I concede Fred's point that Wamu was just following the rules. But my larger point is : if these are the rules, then they should be changed. Especially in this age of easy identity theft.

As far as my grandma's case:

The bad news is : she never recovered her money and as far as I know. No one was ever brought to justice. Wamu never got back to me. And the banking industry has not changed their practices, meaning some unknown number of people are still getting ripped off by these creeps.

The good news : Grandma hasn't been ripped off since this happened. And I've moved most my money out of my Wamu account into a credit union. (And the New York Times may now be looking into this.)

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comments:

Hi guys, I just wanted to update this with a new question. I had fraud on my personal checking account to the tune of $2500.00. Had the check card and stolen, reported it, and letter from police and everything. WAMU totally screwed it up. Tried to take me tell me that it was my error (okay, so I declare my atm card stolen, which it was and 2 days later 2500.00 is withdrawn somehow online through a non-legit company, and they say it's my fault!) They harassed me through several creditors (RJM Acquisitions in NY) to say that I owed WM this money that was clearly stolen from my account through the atm card and id theft. They were unreachable, wouldn't return calls when I tried to pursue this. I Finally threatened to take them to court, whereas I never received my money back, but instead got a pathetic letter from Andrew Samuel stating that this issue had been resolved..Riight, so fast forward to the past 8 months. I still receive phone calls and letters, pure harrasement over this. Suggestions? I'm thinking of using that previous thought, brilliant, and taking them to small claims!
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