46 people are arrested for a cash advance scam


Posted on the 15th of February 2015

46 people are arrested for a cash advance scam

Forty six residents of New York city were recently arrested for being involved in a cash advance scam that stole $204,791 from TD Bank. Taking advantage of the TD Bank policy of granting same day availability on checks deposited, 46 people wrote and deposited bad checks into their TD Bank accounts. The suspects then withdrew the money from their bank accounts via Global Cash Access transactions in Atlantic City casinos. The fraudulent cash advance withdrawals were completed at the Borgata, Revel, Trump Taj Mahal, Showboat, Caesars and Bally’s. “These alleged crimes were highly-organized in their exploitation of a policy designed to make bank customers’ funds available quickly for their use,” said Acting Attorney General John J. Hoffman. “We know that financial criminals will seek to exploit any perceived weakness in safeguards to steal, and because of that we will continue our focus on these types of scams to ensure the financial security of our casinos and banks remains solid.”

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