A woman recently shared her ordeal with MarketWatch on how her ex-husband drained her life savings when they were married. He hacked her email, forged documents, and impersonated her to take over their joint account and silently transfer her business savings into his separate accounts using a PayPal account. The husband created the PayPal account for her but also took it over by changing the names and addresses. The bank was helpless during the divorce, but the situation became worse when she met with a major car accident and had to focus on her health for a while. She had been saving up in a pension fund and a money-market account, which pay interest on your deposits, thinking they would be safe. However, the husband forwarded statements and her PayPal details to his best friend's address and stole almost everything she had saved. The man didn't even spare her business Visa card.
A Joint Account Complicates Her Case
Her shock has translated to panic attacks as she struggles to wrap her head around the situation, which becomes complicated because of the joint account. As she wonders how her ex-husband can change names and addresses without informing her, it is essential to understand that joint accounts offer shared authority to account holders. If the husband hacked her separately held accounts, she could build a case on that, but a joint account weakens her position, especially if she didn't raise the point during divorce proceedings. The law must verify if the funds were stolen or transferred to another account.
However, hacking into email is a cyber offence, and the ex-husband probably violated several state and federal laws by accessing her email and separate PayPal accounts without her consent and forging documents in her name. The US Department of Justice treats unauthorised access to protected computers as an offence under the Computer Fraud and Abuse Act (CFAA). Despite the provisions under the law that punish identity theft as well as mail and bank fraud, she must prove the ex-husband's intent to commit fraud, cause harm, or acquire something valuable. Furthermore, a hacking attempt doesn't have to be complete for the criminal to be arrested or charged, where punishments could range from one year in federal prison to up to two decades for more severe crimes.
She Needs Forensic Expertise
The woman must find and connect all the dots linking her ex-husband directly to the fraud. This process can involve tracking his clicks to hiring an attorney specialising in forensic accounting and investigations. The law under CFAA evaluates the technology used to commit the crime, the sensitivity of the information, tools utilised to gather evidence, and victim concerns, among other factors, to determine case outcomes. The laws can also vary state-wise. For instance, email hacking is a white-collar crime in Virginia, with jail sentences of up to five years for repeat offenders and a $2,500 fine.
Meanwhile, locking account holders out of their PayPal accounts, taking over a joint account without consent, or impersonating a person to make credit card purchases can lead to strict punishments. Identity theft, or stealing someone's information like Social Security Number to apply for credit cards or avail financial services, is a major problem in the US, with over 500,000 cases registered in the first half of 2024. The woman could lodge a formal complaint with the local police department and the Federal Trade Commission regarding the account takeover, business cards, and forged documents to begin the process of recovering her hard-earned money. She could also put a credit freeze on her credit reports to avoid further misuse. Keeping track of your credit profile regularly also helps to identify any suspicious loan inquiries or accounts opened using your personal information and report them to the credit bureaus.
