Baylake Bank News. Member FDIC
Remotely Created Draft Scam Detected
Baylake Encourages Public to Monitor Account Activity

April 10, 2013 -- Sturgeon Bay, WI

Baylake Bank is alerting the public of a remotely created draft scam that is causing unauthorized withdrawals on accounts, and seems to be affecting customers at various area financial institutions as well as throughout the country.

A remotely created draft is a paper item that utilizes customer account information, and works very much like an automated clearing house (ACH) transaction to transfer money. The paper item being received is fraudulently withdrawing money from the account, and can only be noticed when account activity is reviewed by the customer. Most of the scam withdrawals reported to date have been in the amount of $29.95 under one of the following payee names: Web Service, Global One World System, Web Entertainment, World Entertainment or Web World.

Baylake advises members of the community to monitor their accounts frequently, and if you believe your account has been affected to proceed immediately with the following:

(1) Do not attempt to call the number on the remotely created draft.
(2) Contact your bank. If you are able to print an image of the questionable draft, please bring it into your financial institution.
(3) Contact your local law enforcement agency and report that you may be a victim of fraud.

“We work to safeguard our customers through every means possible, including helping our customers understand ways to protect themselves,” explained Security Officer Dennis McIntosh. “However scams like this one require that our customers be even more diligent in monitoring their accounts for unauthorized activity. We want to warn the public so it doesn’t happen to them.”
 

 

Baylake Bank | 217 N. 4th Avenue | Sturgeon Bay, WI 54235 | 1-800-267-3610