Is "DIRECT WITHDRAWAL, IOF - FORESTERS FORESTERS" fraud?

Written by Aiden Lee

June 18th, 2024

Medium Risk

What is "DIRECT WITHDRAWAL, IOF - FORESTERS FORESTERS"?

Foresters Financial has been in business for over 140 years. The company offers a range of financial products and services. These include life insurance, retirement and investment products, and community-based programs. Foresters Financial also provides various types of mutual funds and annuities. The company focuses on helping individuals and families achieve financial security, while also promoting community involvement through member benefits and community grants.

**DIRECT WITHDRAWAL: ** Indicates the method of transaction, which is a direct withdrawal from the account.

**IOF: ** Possibly denotes a fee or tax (e.g., Imposto sobre Operações Financeiras in some countries).

**FORESTERS: ** Likely the name of the financial institution or company associated with the transaction.

**FORESTERS: ** Repeated for emphasis or clarification regarding the entity involved.

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.