The Rules · from Part 1
Is it illegal to keep money sent to your account by mistake?
Short answer
Yes. Spending money you know was sent in error can be theft. In 2021 a Louisiana woman who moved a $1.2M Schwab error was charged with theft, bank fraud and illegal transmission of funds.
Banks and brokers make mistakes, and the law is clear about who the money belongs to: not you. In the US, knowingly keeping or spending funds deposited in error can be prosecuted as theft, and the bank can also sue you to get every cent back.
The real case, how people get caught, and what to do instead — in the full Rulebook. Get the Rulebook → (free with the Founder's Pass)
Sources
REAL
General information, not legal or financial advice.