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Friday June 25, 06:20
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Credit Card Fraudster Hit US Treasury Department
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Three years after being arrested for making unauthorized Internet purchases with stolen credit cards, a Winnipeg man has been imprisoned for more than six years for global credit card fraud. The US Treasury Department was the main victim, as the man, Daniel Bedada-Letta, filed over 300 online orders for US savings bonds worth more than USD 250,000. Although Bedada-Letta’s scam affected cardholders in over 12 countries, he was released last year under conditions, but was re-arrested earlier this year after hacking into witnesses’ e-mail accounts to send misleading data to the RCMP.
Despite the popularity of credit cards in Canada, debit cards are used for 10 million transactions per day, with the CBA reporting debit card fraud to remain low at about CDN 150 billion annually. Banks usually offer to refund customers “reasonable costs” for card fraud, but may fall short if debit cards are involved. Last February, CIBC notified a customer, Leslie Yaffa, of six unauthorized debits from her bank account totaling CDN 3,900, and an unauthorized deposit of CDN 3, 219, but Yaffa began paying bills immediately, instead of waiting for the fraudulent transactions to be reversed.
On incurring a CDN 2,700 overdraft when the bogus deposit was debited from her account, Yaffa asked CIBC for a refund, for which it took partial responsibility while stating that she had a duty to monitor her balance. Since CDN 3,216 remained in the account after the bogus withdrawals were reversed, CIBC refused to reimburse Yaffa, arguing that it was not appropriate that she should “profit financially from this situation”. Eventually, after Yaffa had borrowed CDN 2,700 from her father, the Ombudsman for Banking and Investments sided with CIBC in the dispute, which Yaffa lost.
(Canada Newswire)
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