Scope of Recoverable Losses
Only losses listed here are recoverable from EZShield. The amount recoverable by the account holder shall include all actual amounts paid from the account, including fees charged by the financial institution, and all retailer fees incurred due to the fraud, not to exceed the total reimbursement amounts described above.
- Check fraud is one of the most damaging forms of identity theft.
- In addition to wiping out your account, it can tarnish your credit report.
- Identity theft has topped the list of Federal Trade Commission complaints.
- The average loss per fraud incident is $2,412.
- Business accounts are believed to have the highest risk of fraud.
- An estimated 50,000 cases of fraud a year are committed on the 24 million U.S. businesses.
- Alteration/forgery accounts for over 30% of fraud cases.
