Yes. If you can trick senior citizens into giving you the information over the phone, you've got a legitimate business in the eyes of the banking industry. Thi

Yes. If you can trick senior citizens into giving you the information over the phone, you've got a legitimate business in the eyes of the banking industry. This was a scam that caught my grandmother 10 years ago. The New York Times did a story on the industry: State regulators have tried to protect victims like Mr. Guthrie. In 2005, attorneys general of 35 states urged the Federal Reserve to end the unsigned check system... But the Federal Reserve disagreed. It changed its rules to place greater responsibility on banks that first accept unsigned checks, but has permitted their continued use. ...In all, Wachovia accepted $142 million of unsigned checks from companies that made unauthorized withdrawals from thousands of accounts, federal prosecutors say. Wachovia collected millions of dollars in fees from those companies, even as it failed to act on warnings, according to records. http://www.nytimes.com/2007/05/20/business/20tele.html http://www.nytimes.com/2007/05/20/business/20tele.html I documented my failed effort to get Washington Mutual to reverse the checks written against my grandmother's account: http://wamublamesgrandma.blogspot.com/ http://wamublamesgrandma.blogspot.com/