Legal Question in Banking Law in California

I got scammed by an online business. They had me make payment to them by walking into their bank and depositing cash into their account with a deposit slip. Since then I've heard that it's illegal for a bank to take a cash deposit to an account where the person making the deposit is not one of the account holders. The chances are slim that I can find the online swindler. However the bank facilitated the whole thing by allowing deposit to be made in the first place. Can I sue the bank in small claims court and get my money back from them?


Asked on 7/27/16, 2:18 am

1 Answer from Attorneys

There is no such law. Some banks have implemented such a rule to assure they are compliant with anti-terrorism and anti-money laundering laws that limit and track cash transactions, but there is no law that requires it. In addition, even if there was such a law it would be to prevent terrorists from secretly moving money, and criminals from money laundering. It would not provide you with a private right to sue over a fraud that had nothing to do with terrorism or money laundering.

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Answered on 7/27/16, 8:05 am


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