5 ms·
Presumably it goes like this: 1. Apply for loan under Bob Smith's name using stolen/forged identity 2. Company providing loan will only send to a bank account
by shawabawa3 4y ago
Presumably it goes like this:
1. Apply for loan under Bob Smith's name using stolen/forged identity
2. Company providing loan will only send to a bank account in Bob Smith's name
3. Provide the company with Bob Smith's real bank account details
4. Message Bob Smith, "oops, we accidentally sent you $x in error! please send it back"
5. Bob Smith now on the hook for proving they didn't apply for a loan
- forgotpwd16 4y agoSo bank fell for a con and now Bob has to pay?
- PKop 4y agoYes because how would it look different if Bob was playing both the victim and the scammer?
- zepolen 4y agoThe house always wins.
- lmz 4y agoBob's mistake was sending the money "back" to someone other than the original sender. I'm sure you can appreciate how this appears no different to the sending bank vs. e.g. sending it to your cousin who conveniently lives in another country.
- DangitBobby 4y agoI don't see why that should be Bob's problem. Don't give out loans without proof of identity.
- lmz 4y agoIt's not about the loan at that point. It could be a wrong account number, or a wrong amount (e.g. https://metro.co.uk/2022/09/01/australia-crypto-com-accidentally-sent-woman-6000000-17281234/ https://metro.co.uk/2022/09/01/australia-crypto-com-accident... ) and Bob would still be liable if Bob moved the money out and was unable to return it.
- shawabawa3 4y agoBank fell for a con issuing a fraudulent loan Bob fell for a con by transferring money to someone So even if the loan is forgiven to bob (which it should be), the bank could argue that those funds that were transferred were bob's own money, not the loan
- DangitBobby 4y agoNegative. Bob did not initiate a loan, and did not have the money to give.
- jerrre 4y agoCan't bob see who sent the money, to find out it's a loan company, not the messager?
- mousetree 4y agoWould be easier to find Bob's stolen identity information on the darkweb and open a new account under those credentials. If not Bob, then someone else. Fairly easy to get a set of stolen US identity documents these days.
- megous 4y ago5. Bob sends it back to the bank. And your scenario doesn't match the original: > There is a scam where people put money into your account.
- simonw 4y ago"where people put money into your account" here can mean "where people cause money to show up in your account by applying for a loan in your name". The constrained message length and lack of edit feature on Twitter means you have to forgive people if their wording isn't exactly as accurate as you might want it to be.
- drited 4y agoIf Bob has his antannae up he does. If not he sends it to the IBAN that the scammed gave him for the 'return' payment.
- LeifCarrotson 4y agoBob doesn't have any of the original details of the originating bank and loan, he's sufficiently likely to trust the person who seems to know what's going on and who messaged him out of the blue, saying "Please, please, I beg you, transfer the money that just showed up in your account [from Loaning Bank] back to me, at Different Bank by means of Western Union." Bob, being a kind and honest person, is unlikely to guess at the existence of the loan. If the person does look up the details and just transfers the money back to the loaning bank, that doesn't cost the scammer anything.
- SkyBelow 4y agoAt step 4, my default has always been "Please work with your financial institution to reverse the transaction." and then don't touch the money they've sent. Not touching the money and saying you are completely willing to return it but want to ensure it follows the correct process through the financial institution will protect you legally should it be an actual accident, and if it is a scam it'll disappear on its own when the scam runs out of time (bank determines you were sent money through a forged check and reverses it or something similar). Ignore any sob stories about how they need the money, the more convincing the sob story the more likely it is a scam to begin with.
- adrr 4y agoIf you had the private info to apply for a loan in someone’s name, you also have the information to create a bank account in someone name. You don’t need to prove that you didn’t create the loan. It’s up to the company to prove that it was you. Having private information isn’t enough. At most you need to file a police report to expunge it off your credit report. $250k is also the amount that involves the Feds. Most scammers won’t hit that amount since they know the state/loc police don’t have the capability/resources to investigate electronic funds transfer type scams.
- justinclift 4y ago> If you had the private info to apply for a loan in someone’s name, you also have the information to create a bank account in someone name. Creating a bank account (fully, not just the application to do so) generally requires going into a bank branch. At least in Australia and UK anyway. Going into a bank branch would mean real potential risk for a scammer, as they'd then be caught on camera. And if the bank figures out they're a scammer before hand... potential police waiting. My point being that the post you're replying to makes a good point. A scammer could do a bunch of things that aren't all that risky, compared to creating an account in person... which seems like it would introduce a _lot_ more risk.
- adrr 4y agoAssuming this is the US. There are lots of online only banks. Also I think Paypal offers banking services. Most discount brokers offer banking services like Etrade, Ameritrade and they allow people to signup online.
- staringback 4y ago> requires going into a bank branch. At least in Australia Not true, wheres the bank branch for ING? https://www.ing.com.au/ https://www.ing.com.au/
- justinclift 4y agoGood point, I'd forgotten about them. I did say generally requires going into the bank in person though. ;)