Message Font: Serif | Sans-Serif
No. of Recommendations: 0
JeanDavid wrote A friend lost her life savings and may lose her house because of identy theft. My friend knows who did it, and reported the thief to the police. The police talked to the thief and he said my friend gave him the money. My friend did not give him the money, nor did she pay gift tax on it (almost $250,000).

I would very much like some details - I read stories like this frequently. I question the implications of these based largely on the assumption the victims funds were in a financial institution as opposed to the cookie jar.

Reg-E makes the financial institution is responsible for funds fraudulently taken if electronic information was involved - which I understand would include internet and ATM type methods. If somebody shows up at a bank, banking regulations require some diligence on the part of the bank.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.