What To Do When You Mistakenly Transfer Money To Wrong Account
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What To Do When You Mistakenly Transfer Money To Wrong Account

When you mistakenly transfer money to a wrong account or defrauded by fraudster, as soon as you get to know that you have made a mistake or you are defrauded. The first step to be taken is you report to the police not the bank because bank has  no POWER TO STOP anyone from using his or her account.


You can only go to the bank to collect your account statement which indicates the detail of the transaction, so that it will serve as evidence.


After you have shown the proof that you are defrauded or done wrong transaction,The police will fill a form with the datails of your complaint and take the form to a Magistrate court to make what is called Bankers Order.


The magistrate in chamber will sign the bankers order to freeze the account or order the bank of the recipient to disclose information about the owner of that account.


Then the order will be served on the bank within jurisdiction.


The bank would then co-operate with the police, release the particulars of the account’s owner, call him/her to return the money to you.


If the owner of the account has withdrawn the money, then the account will be frozen and he/she will be told to return it within a short period of time.


If he fails to return the money, he will be arrested and prosecuted, for stealing if you mistakenly transfer the money or for fraudulent act if you are duped because he ought to have known that such money is not his.


The offence was not committed when he spent it, but it was committed when he fails to return it.


So, in order to avoid all these scenarios, cross-check the name of the recipient before pressing send and find out the integrity of the person you are dealing with.


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