The receiving bank often takes holds on the funds until they are specifically cleared from the originator bank or a fixed holding period. In that time, you can

The receiving bank often takes holds on the funds until they are specifically cleared from the originator bank or a fixed holding period. In that time, you can still deduct the money if you had the cash previously available or maybe if you're in good standing with the bank (not entirely sure on this part, probably different per bank). The money is often frozen completely then returned to the defrauded party if caught quickly enough. Sometimes banks try to screw over people who are found to be victims of fraudulent transfers after the money has been pulled from the receiving bank.