Submitted by Oddballxx124 t3_zuszb3 in tifu
Duality26 t1_j1nvyj3 wrote
Reply to comment by Scoach3 in TIFU by falling for a scam and losing over $1k by Oddballxx124
This is wrong. Recent CFPB guidance and regulation e guidelines explicitly state that being the victim of a an account takeover is grounds for the transaction to be covered under the definition of an error, if the transaction is POS or ACH.
Liability for wires is different, however, as they are not covered under Reg e.
Anybody with Bank experience should note the criticality of regulatory definitions when trying to provide help.
Edit: OP is in Austraila, Reg E doesn't apply. Oof.
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