I stand corrected and then even better. This whole notion that these people did nothing wrong is just simply ridiculous.
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Couple must return $120,000 after bank error prompted spending spree
- Thread starter Sqrt
- Start date
I stand corrected and then even better. This whole notion that these people did nothing wrong is just simply ridiculous.
You either have these restrictions requiring banks keep track of money and do their upmost to keep financial transactions accurate, which yes, means getting it back in the case of errors, or you effectively legalise massive money laundering schemes. You can't just have banks be able to deposit huge amounts in random accounts and laugh it off.
What if the mistake was made by someone transferring money and getting the account number incorrectly? This is what could have happened here.
That's pretty much what happened. The bank didn't make the mistake. An employee did. If you absolve the employee and automatically blame the bank, then employees everywhere should start making "mistakes" with their friends and family since people will just want to hold the bank itself responsible.
felony charges are the sticker for me do they have to give them a criminal record in addition to probably bankrupting them in civil court?
But yes spending the money like they did was the dumbest thing they could do and the bank has every right to ask for it back.
But yes spending the money like they did was the dumbest thing they could do and the bank has every right to ask for it back.
Well, yeah, fair points here. I guess it's just my immediate reaction to say these people are stupid, but fuck the banks.
If you forget your credit card and someone uses it to buy something, should you be liable for that purchase? After all, it was your fault that you forgot your credit card so someone could take it.
If I accidentally mistype my card details into an online transaction and it ends up coming off your card instead, should I have to return it?
You've just finished a meal out, you leave a tip. But instead of leaving a £20 as intended you accidentally leave £200.
You head back in and explain the mistake to the manager, you think he should be able to turn round and say "tough shit, your mistake, bye"?
You people are crazy...
The couple here didn't make a mistake. They took someone else's money and ran. The bank merely gave them the opportunity through their error. The couple was contacted by the bank and had full understanding that the funds weren't theirs. So I'm struggling to understand why the theives are the sympathetic party here.
Like, if a valet at a fancy hotel returned your car to someone else by accident and they decide to just keep it then how would that be any different? That's not a "fuck fancy hotels" moment.
They were just paying it forward from their own government bail out...
I agree with you. Some people here have such an anti-corporate stance no matter what that they reach so far around and up into their own assholes with backward logic and absolutely irresponsible justification.
while I agree with the sentiment, spending someone's cash in a personal wallet is muchhhhh different than worrying about money from a fucking bank, lol
A few years back I kept getting random deposits of £50-70 into my bank every few months. After a few years the bank called as they had been deposited in error and only asked for the last deposit back. That paid for some nice nights out lmao. Probably got £500 for free over those years.
Happened to me like 10 years ago, I got like 20€ in my account every month with a weird name attached to it, never paid much attention as that wasn't much money, and one day it stopped. Just weird.
I just checked how it works in Germany and three things are interesting:
1.) You don't have to report that money to your bank, authorities, well, anyone.
2.) You can keep all the interest generated by that money.
3.) When the money isn't claimed within three years, it's yours.
1.) You don't have to report that money to your bank, authorities, well, anyone.
2.) You can keep all the interest generated by that money.
3.) When the money isn't claimed within three years, it's yours.
I've been dealing with this kind of issue at work (government grants). We rolled out a new financial system and ended up with $600k in double payments thanks to a number of issues. It took around six weeks after noticing the issue to start trying to recover the funds as for whatever reason the Accounts Receivable functionality hadn't been deployed yet.
There was one seniors organisation whose bank details had overwritten another seniors group in the migration and then denied all knowledge of receiving an extra $2,000, going so far as to claim that they didn't believe we were from the government when we called.
There was one seniors organisation whose bank details had overwritten another seniors group in the migration and then denied all knowledge of receiving an extra $2,000, going so far as to claim that they didn't believe we were from the government when we called.
Theft by finding covers it.
Spending money that isn't yours is still theft. Especially as the article clearly stated they contacted their bank to offer payment plan then tried to ignore it.
This was spent in obvious knowledge they had money that wasn't theirs, it's theft.
They could've avoided legal action by not spending the money, contacting the bank and actually asking where the money came from.
They didn't, they saw it as free money and spent it. That's theft. Banks don't magic up money* and that money came from someone in order to pay it.
The bank can't recoup the money other than from where it went to in error. The fact is that money is now a loss to the bank. That's not insignificant.
Apart from the $185 million in fines and $2.7 billion in lawsuits. And multiple major account holders leaving the bank.
Apart from that sure they got away with it.
Again. The people involved were offered a payment plan. They agreed to this. Then they ran off. That's when legal proceedings started.
"Getting their life ruined" is such a stupid argument for when people get their comeuppance.
Yes. Theft by finding.
You must report found money to the police by law. Such a high amount if then reported and traced back to you will end up with you in court.
Bank accidentally deposits money, they spend it and get sued "oh no, the evil bank evil evil how could they it was their mistake!!"
Bank accidentally withdraws money "oh no we must sue for damages sue sue sue the bank run em into the ground how dare they make a mistake"
Come on, nothings free in life. Especially not money. Just dont spend it lol
Bank accidentally withdraws money "oh no we must sue for damages sue sue sue the bank run em into the ground how dare they make a mistake"
Come on, nothings free in life. Especially not money. Just dont spend it lol
It's only 120k lol
How did you get that much and think, "Its time to go on a spending spree", and instead of, "Oh I should use this for rent and bills, so I can actually start saving money from my work checks.".
How did you get that much and think, "Its time to go on a spending spree", and instead of, "Oh I should use this for rent and bills, so I can actually start saving money from my work checks.".
"We're living check to check. We tried to set ourselves up for the future." is the kind of defence that might get leniency in court. "Bought a fucking racecar, lol" is not.
Agree with this 100%
To be so vindictive about it is just as wrong, if not more so than the morons spending the money. They didnt hold the bank up at gunpoint ffs.
The bank discovered the error, informed them and set up a repayment scheme to allow them to pay the money back.
The woman then ceased all contact with the bank.
That's the point it became a felony.
I wouldn't have spent it myself, mostly out of fear. But I don't see how this classifies as theft. They didn't actively steal anything, it's entirely the bank's fault, and therefore they should take the damage.
Edit: I'm not speaking on the legal definition of theft, since I have no knowledge of that. I'm just saying from a purely moral perspective.
Edit: I'm not speaking on the legal definition of theft, since I have no knowledge of that. I'm just saying from a purely moral perspective.
Some folks on Reddit mentioned they'd done exactly this and it was fine.
I'm pretty side it's not the having the money part but the spending it part
They are being charged because when the bank tried to setup a repayment plan with them they ghosted the bank.
If they had just returned the money there would not be a problem.
They spent over a $100,000 in a few weeks?! And ghosted the bank on a potential payment plan?
Hell, even if the bank somehow just gave it to them, what did they think was going to happen when the IRS comes knocking on their door for the taxes owed on a sudden $120,000 income influx at the end of the year?
Everything is paper trailed cause it's a blasted bank account! How stupid were these people?
Hell, even if the bank somehow just gave it to them, what did they think was going to happen when the IRS comes knocking on their door for the taxes owed on a sudden $120,000 income influx at the end of the year?
Everything is paper trailed cause it's a blasted bank account! How stupid were these people?