the staff f the Ridgewood blog
Glen Rock NJ, two Glen Rock residents recently fell victim to financial fraud, reporting a combined loss exceeding $38,000, according to local authorities. Both incidents are under investigation by the Glen Rock Police Department’s Detective Bureau.
Home Equity Line of Credit Targeted
On Saturday, a Glen Rock resident received a notice from their bank regarding a suspicious $12,000 advance taken on their home equity line of credit. When the individual contacted the bank, they discovered an additional fraudulent transaction of $1,831.40.
Business Checking Account Compromised
Later the same day, another resident reported fraudulent activity involving the checking account of their Glen Rock-based business. Preliminary losses from this incident have already surpassed $26,000.
Police Investigation Underway
Both cases have been referred to the Detective Bureau for further investigation. Local authorities are urging residents to remain vigilant and report any suspicious activity to their financial institutions immediately.
How to Protect Yourself from Financial Fraud
- Monitor Your Accounts Regularly: Check bank and credit card statements for unauthorized transactions.
- Set Up Alerts: Enable notifications for transactions exceeding a certain amount.
- Use Strong Passwords: Ensure your online banking credentials are secure and unique.
- Report Suspicious Activity: Contact your bank and local authorities at the first sign of fraud.
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If the bank passes through a fraudulent check, are they ultimately responsible for replacing the funds? Every time I have to mail a paper check, I wonder if it will end up in the wrong hands, and I try to avoid it.