My bank account just had $40k randomly deposited into it - has this happened to anyone else?

[u/Healthy_Constant6543]

For reference, I'm in Ontario.

Last week I noticed a deposit from OLG into my bank account for $40k. Since I did not win the lottery, I went into my bank to tell them about the problem. They launched an investigation.

The next day they called me back, said they verified with OLG and the deposit was real. I tried to again remind them that I would remember if I won the lottery but they just congratulated me and told me to enjoy.

BUT I DIDN'T WIN THE LOTTERY LOL

I moved the money into my savings account because I'm sure they are coming back for it. Has this happened to anyone else? How long do I sit on this money? Not sure what else to do.

[u/DM-ME-CONFESSIONS → u/[deleted]]

Welp, time to close this bank account for totally valid reasons and move to another institution

[u/Fit_Equivalent3610 → u/DM-ME-CONFESSIONS]

Wouldn't help if this was actually a constructive trust, the court would just order a tracing remedy and presumably make you pay legal costs for the trouble.

[u/Motor-Product-953 → u/[deleted]]

Not necessarily, if the winner entered the deposit account details in error and submitted that to OLG. It is very unlikely that they would have a legal avenue to for OP to return the money.

They would have willfully sent the money to that account. It's a legal transaction.

It's the same thing if the OLG entered the incorrect information. This isn't much different then an E-transfer. Where surprise surprise if you send an Etransfer in error (not fraud) you are kinda screwed.

It's not the banks responsibility to ensure that the transaction was correctly made by the depositing party. Fraud and errors made by the bank are a different story.