How a Veteran CEO’s Retirement Was Nearly Wiped Out by a Sinister Scam – and What You Must Know to Protect Yourself
The next morning, bulging file folder in hand, I went to the bank with a request for help. The bankers and I had a lengthy discussion, and we decided on the following remedies.
(1) Lock the current checking account so that only deposits could be made. NO withdrawals would be possible.
(2) Create a new checking account.
(3) Transfer funds from the original account, leaving a zero balance in it.
(4) Leave the original account open temporarily, but locked, so that regular deposits could be made.
(5) As soon as possible, arrange for all on-going monthly payments and regular deposits to be paid through the new account.
