Do you know that unauthorized bank accounts have been in the news and on the rise recently? Consumers who have been subject to unauthorized bank accounts, such as the fake bank accounts scandal that came up for Wells Fargo in recent years, might not even realize that a financial account has been open in their name until it is too late.

Unauthorized bank accounts are a serious concern for consumers across the country. Although a settlement was achieved in that initial Wells Fargo case, federal investigators believe that employees at other institutions are also involved in behavior to open unauthorized bank accounts in order to meet sales goals.

Attorneys are currently investigating whether or not unauthorized bank accounts have been opened by representatives at TD Bank, HSBC, Capital One, Bank of America, Royal Bank of Canada and BOK. Unauthorized bank accounts might not be discovered until after they have been opened for some time.

Federal investigators believe that the practice of opening unauthorized bank accounts is not unique to the Wells Fargo scandal. Numerous other banks could be possibly involved in these types of activities.

In fact, according to the Los Angeles Times, the Office of the Comptroller of the Currency has looked at more than 40 mid-size and large banks and discovered that the creation of unauthorized bank accounts had a number of different causes including inappropriate account closing and opening procedures, isolated instances of individual employee misconduct and short-term sales promotions without appropriate oversight.

There are several different signs that you could be a victim of unauthorized bank accounts. The first of these is bank fees. A customer might notice an unexpected charge on their account and can discover that they had been upgraded to an account that required that person to maintain a minimum balance. This could be a sign of unauthorized bank accounts fraud.

Overdraft fees could also come about because employees might have taken money out of your existing account to open a new and unauthorized one. This could lead to overdraft fees and upon further investigation, you can discover the opening of unapproved bank account. If a credit card was opened in your name, you may discover interest charges indicating the fraud.

Changes in your credit report might also clue you in to unauthorized bank accounts or unauthorized credit lines, particularly if someone else has tried to sign up for a credit card in your name.

If you are not yet sure whether you have been the victim of unauthorized bank accounts, it is in your best interests to run your credit report and to consider participating in a class action lawsuit investigation, if there is the possibility that you have already been harmed. The support of an experienced attorney is invaluable during these difficult times. When unauthorized bank accounts are opened, an affected consumer may be able to use this information to initiate a lawsuit.