4 ms·

Looks like 50% of those scams could be eliminated simply by the general public not accepting cheques. I don't think I've seen one here for at least a decade an

Looks like 50% of those scams could be eliminated simply by the general public not accepting cheques. I don't think I've seen one here for at least a decade and a half, same for signatures with credit cards.

carstenhag 3y ago
Similar scams are done in Europe, where checks are almost-extinct. Sorry, scammers will always find a way
- gambiting 3y ago
  How though? A direct bank transfer in Europe is nearly completely impossible to reverse, once you have money in your account it's staying there.
  - alphager 3y ago
    The "money agent" acts as a cut-out and delay tactic. Usually it's combined with a parcel re-shipping scam. It works like this: "Sell" high-priced items on eBay, use the local bank account of the mule to collect the money. The victims will trust this process because a local bank account is involved. The mule now transfers that money through irrevocable money orders into a non-extraditory country. The victims will go after the mule, but the police will take some time, so you get 2-4 months out of a mile until he is arrested. At the same time, you order high-priced items using stolen credit cards and have them delivered to the mule. The mule repackages them and sends them to the scammers. The shops will go after the mule.
    - gambiting 3y ago
      Ah. That makes sense - thanks for explaining.
lapetitejort 3y ago
Until bank-to-bank 0% fee services like Zelle become more popular, checks are still the best way to pay someone a significant amount without a chunk getting taken out as debit/credit fees.
- Spivak 3y ago
  Thankfully people these days know that checks that aren't cashier's checks are nearly worthless. I wish more people verified the check over the phone before accepting it but it's a start.
duskwuff 3y ago
Absolutely - or if the check clearing process made it more obvious to customers that a check hasn't cleared yet, possibly even by not making funds available for checks drawn on dubious banks until the check has fully cleared.

carstenhag 3y ago

Similar scams are done in Europe, where checks are almost-extinct. Sorry, scammers will always find a way

gambiting 3y ago
How though? A direct bank transfer in Europe is nearly completely impossible to reverse, once you have money in your account it's staying there.
- alphager 3y ago
  The "money agent" acts as a cut-out and delay tactic. Usually it's combined with a parcel re-shipping scam. It works like this: "Sell" high-priced items on eBay, use the local bank account of the mule to collect the money. The victims will trust this process because a local bank account is involved. The mule now transfers that money through irrevocable money orders into a non-extraditory country. The victims will go after the mule, but the police will take some time, so you get 2-4 months out of a mile until he is arrested. At the same time, you order high-priced items using stolen credit cards and have them delivered to the mule. The mule repackages them and sends them to the scammers. The shops will go after the mule.
  - gambiting 3y ago
    Ah. That makes sense - thanks for explaining.

lapetitejort 3y ago

Until bank-to-bank 0% fee services like Zelle become more popular, checks are still the best way to pay someone a significant amount without a chunk getting taken out as debit/credit fees.

Spivak 3y ago
Thankfully people these days know that checks that aren't cashier's checks are nearly worthless. I wish more people verified the check over the phone before accepting it but it's a start.

duskwuff 3y ago

Absolutely - or if the check clearing process made it more obvious to customers that a check hasn't cleared yet, possibly even by not making funds available for checks drawn on dubious banks until the check has fully cleared.