RBC customer loses $10,000 after falling victim to bank draft fraud.
In a recent incident, Vancouver resident Mark Milburn fell victim to bank draft fraud, losing $10,000 in the process. Milburn, who had previously used bank drafts as a secure form of payment, expressed concern about the future reliability of this method.
The Incident
In early January, Milburn listed a $10,000 luxury watch for sale on Facebook Marketplace. He had used the platform before without any problems. To ensure the legitimacy of the transaction, Milburn visited his local RBC branch and asked the teller to verify the authenticity of the bank draft he received.
Teller’s Assurance
The RBC teller reportedly assured Milburn that the draft was valid. However, upon contacting the issuing bank, Milburn discovered that the draft was counterfeit.
Customer’s Perspective
Milburn expressed dismay and frustration over the incident. He questioned the reliability of bank drafts and wondered how businesses could trust them in the future. ‘How is any business going to be able to trust a bank draft anymore,’ he said.
RBC’s Response
RBC has not publicly commented on the specific incident involving Milburn. However, the bank does have measures in place to prevent and detect fraud. These measures include:
* Verifying the authenticity of bank drafts
* Educating customers about fraud risks
* Working with law enforcement to investigate and prosecute fraudsters
Tips to Avoid Bank Draft Fraud
To protect yourself from bank draft fraud, consider the following tips:
* Never accept a bank draft from someone you don’t know or trust.
* Verify the authenticity of the draft with the issuing bank before accepting it.
* Be wary of drafts that contain misspellings or other irregularities.
Conclusion
Bank draft fraud is a serious issue that can result in significant financial losses. While banks have measures in place to prevent fraud, customers should also be vigilant and take steps to protect themselves. By following the tips outlined above, you can reduce your risk of becoming a victim of this type of fraud.