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>Source: was defrauded through wire transfer. how did that happen? Personally, I associate wire transfers with fraud; I won't accept them as payment, same as

• SilasX 13y ago
  It happened because I though that if I could point to the exact local address the wire went to, then the immense paper trail would mean they could reverse the transfer in case of blatant fraud, hopefully while also arresting the people responsible. Now I know better though. But not by listening to the NYT's assurances about how much more diligently the banking system prevents outright fraud.
  • lsc 13y ago
    Ouch. yeah. I do use checks, and those also have unpleasant fraud implications, but it seems like the response to such fraud usually turns out better with checks than with wire transfers. Most people I've heard about who have had people steal money through bad checks just had a big mess to deal with[1], while most people I've heard about who had money stolen through wire transfers actually lost the money. Just my impression from hearing about different folks complaining about it. [1]http://sunburn.stanford.edu/~knuth/news08.html http://sunburn.stanford.edu/~knuth/news08.html "I cannot in good conscience continue to traumatize the people at my bank, who obviously have plenty of other things to worry about."