EUGENE, Ore. – If your bank account is hacked, what happens to your money?
KEZI 9 News talked to Oregon Pacific Bank President and CEO Ron Green to learn more.
Today, there’s a lot of activity going on that’s fraudulent and puts your money at risk. If your account is hacked and the funds are taken, the funds are typically gone. The bank may be able to catch that if they notice the transaction early on.
If there is something that goes on with your account, Green urges you to notify your bank immediately. If you do it within thirty days of the transaction, your funds are likely protected under federal regulations, specifically Regulation E in the Electronic Funds Transfer Act.
So contact your banker. Most likely your funds will be protected.
If you have a banking or finance question for Green, click here.