Phantom Withdrawal


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Phantom Withdrawal

A situation in which money is taken from a person's account via an ATM but the bank does not admit bank error and the account holder claims he/she never made the withdrawal. It is a type of identity theft but it may be difficult to determine whether the account holder or the bank is responsible for the loss. Phantom withdrawals are relatively rare.
References in periodicals archive ?
THE absence of Corelish Cruiser, part-owned by Sky producer Dave Lawrence, from the 575m hurdles open at Romford last night appears to have been the result of a phantom withdrawal with trainer Tommy Foster shocked to find the dog's name missing from the contest on reading yesterday's Racing Post.
I mean, letting Dave Lawrence's Corelish Cruiser be the subject of a phantom withdrawal is hardly the way to get on the right side of the Sky producer, is it?
PC John Munden, 45, became the first person in Britain to land in court after claiming his building society account had been stripped of cash by phantom withdrawals from hole-in-the-wall machines.