Rather distrubing thread

[keepmine]

http://www.insidearm.com/forum/messageview.cfm?catid=4&threadid=4314&enterthread=y

Particularly the last 3 or so posts.
How on earth can some of these things be located?

[treehugger1]

In my opinion the site is a lot of advertising from folks who claim to locate bank accounts. These folks are probbaly running on the "numbers." The proportion of accounts they can "locate" far exceeds the accounts they cannot locate.

The tactics mentioned may very well be illegal (blanket queries, etc.)

If one is so concerned about anyone "capturing" their banking info, then go to paper payroll checks.

[FreshLikeADaisy]

Keepmine, just from reading it, I have a feeling that this Chain guy is probably a PI/ex-LEO that specializes in skiptrace and then branched out into this sideline, but kept and uses their contacts from previous work.

The reason I say that is because I have a fair amount of banking experience myself on the IT side and there are simply no general sources for some of the assets listed in the last post. In other words, he has contacts that involve tax info (the only single source for any acct that would send you a 1099 for interest income, for example) and upper-level banking info (iow, he or she knows someone at Wachovia, for example, that can search all of Wachovia's various banking products by name or TIN) and in addition to that, he or she is a whiz at UCC searches, that sort of thing, which is by and large public. If you have private contacts, all you need from your public searches is the name of an institution, and then you pull that string privately. That's why he or she is so expensive, and why he or she has not ever been busted, esp if previously or currently law enforcement.

I've been out of banking for some time, but beyond the government there are no *true* financial industrywide databases (that I know or have ever heard of); it's way too threatening to business. No bank wants the other bank to know the size and nature of your accts with them; all that does is enable your competitor to better direct their marketing efforts. Even credit bureaus and lexis-nexis hold no candles to the government where banking is concerned. And look at it this way: when was the last time you ever knew a banker to disclose info that was NOT in his/her own best interest? Only to the govt, friend, only to the govt.

[Rintaro]

Is the Act of sending a Blanket Letter of restraining notice to all local banks "legal"

[FreshLikeADaisy]

Is the Act of sending a Blanket Letter of restraining notice to all local banks "legal"

You know, I have no idea so take this with a grain of salt but I am hard pressed to see how it would be *illegal*: basically, he's sending a letter to all local institutions referencing the debtor's names and seeing what it turns up. I'm not sure what the letter purports to "restrain" so I don't know if it, in itself, could be construed as an attempt to collect a debt, but sending a letter to see if it sticks is not by itself illegal, as far as I know. Maybe our more lawyerly minded folks can answer with more specificity.

[southernbelle]

If one is so concerned about anyone "capturing" their banking info, then go to paper payroll checks.

That would be a great solution, but there are some of us that work in State Government that have mandatory direct deposit. There is no other option but to change banks if there is a possibility of someone wiping out your accounts.

Just thought I would add my 2 cents.