- This topic has 45 replies, 33 voices, and was last updated 1 year, 3 months ago by
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USo my sister works in a US based FMCG and She do work from home.
So her company Credit 25000 Dollars (which is around 2200000 Rupees) instead of 25000 rupees as her Salary and it’s been almost a month and the company is trying to reverse the transaction but my sister’s bank(which is federal Bank) isn’t responding
And her company ask for updates every day!
Since one month
So my question is what should we do
and can we keep the money
and what will be the legal consequences for our actions -
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ULawyer here. Ask your bank to co-operate. Ask the company to write a clarification email, ask your sister to write a supporting letter and submit it at your bank. This amount was credited as a mistake, sister has no legal right to it. If she takes the amount or uses it, she is liable for it.
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UI faced the exact same issue last year. All that’s required to do is write an email to your bank (local bank manager and the head office) to reverse the transaction to the source account, state the reason for reversal (I.e incorrect amount transferred), attach a letter from the company which states their request for reversal as well.
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UYou know the money was given to you in error. It is beyond dishonest and morally wrong to keep it.
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USomething similar happened to me in 2017, I got $500K (abt 2.6cr) credit for my year end bonus instead of 500K INR. I reported that to the HR the same day and even told the bank about it ( They called me first as it was a flagged transaction). The company asked me to transfer the money back to their account – It took me a month to reverse the transaction as I had to visit the bank multiple times ( I kept the 80K interest on it :))
This was just after demonetisation as well as there were too many news articles about people moving money to random accounts to avoid scrutiny. I asked HR to issue me a official letter stating this was done as a mistake and it has been reversed successfully.
Please make sure you ask for the official letter to keep yourself safe from any IT scrutiny later as well.
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UFirst you wait until the sending bank is successful in reverting the wire. With SWIFT wires this can possibly be done. Or not, but let the banks deal with that first and act only when the receiving bank tells your sister that she should send the money back. Otherwise there is a risk of a -25.000$ balance, wiring back the money and a reversal of the original wire…
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RKeep the money?? 😅😅 That was a serious question. How’s it so difficult to send it back? Like, why can’t the bank just bank draft it? It’s pretty easy.
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UHey, I work in Fin&Reg Tech.
If you want to keep the money, Create a fake invoice about software billing or sale to show it to FIU. Make sure you have the software just copy from open-source and rename the whole skeleton.
FIU will not contact the foreign party but if you are keeping the money you need to pay tax on it unless you are diverting to a trust.
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