eHam
eHam Forums => Stolen Gear => Topic started by: MI1ESG on January 12, 2020, 01:26:51 AM
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So you make a deal and send a very high amount to someone's bank account. Bank of America limits electronic transfers to $ 2,5 k a day. There is a lshort message with the payments (say 'Hilberling 9000').
Next, you will be ghosted. Calls won't be answered, then the phone will appear to be busy at all times.
Questions:
What to do? Can one retrieve the funds? Can one report embezzlement to the Police? Is this the ultimate scam - where the perp gets to keep the money?
This might be a new type of advance payment scam. Am hoping for advice, tips, solutions. That failing, I want to warn y'll against sending off thousands by bank transfer.
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In this day and age with Scams proliferating all over, I am surprised you fell for this. It is about as foolish a thing to do as it gets. I am sorry for your loss.....a very expensive lesson for you, and hopefully for others who read this.
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you can try contacting the bank and see if there's still time to freeze the transfer. there is a float time, I presume this is an international transfer.
but yeah, you may be stuck outta luck.
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Chris:
I assume from your post that you sent the money to a customer of Bank of America
1. Write a letter to the Comptroller of the Currency, Washington, DC, and DETAIL your experience. Tell the Comptroller that B of A is aiding and abetting fraudulent transactions.
2. Write a letter to the Chairman of Bank of America Corporation and tell him/her that their subsidiary is aiding and abetting scammers and failing to exercise due diligence in vetting and monitoring customers.
The required information can be found through a google search.
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you can try contacting the bank and see if there's still time to freeze the transfer. there is a float time, I presume this is an international transfer.
but yeah, you may be stuck outta luck.
Okay. Now how should one pay? One cannot ask to get a bill and 2 weeks' time to pay it...
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you can try contacting the bank and see if there's still time to freeze the transfer. there is a float time, I presume this is an international transfer.
but yeah, you may be stuck outta luck.
Okay. Now how should one pay? One cannot ask to get a bill and 2 weeks' time to pay it...
I am baffled that anyone would think a bank transfer to a stranger is a good idea!
That account was most likely drained of the money as soon as it arrived. It probably belongs to some poor schmuck who allowed the scammer to use his account # because of some elaborate story he told.
Obviously you have a computer and can use it . Do you not see the scam warnings and stories?
Credit card and bank fraud stories are on the TV ( telly?) almost daily.
He got the money expeditiously, but looks like your equipment will take a lot more than two weeks to arrive if ever. Apparently he didn't share your "speedy transaction" concept.
Unfortunately, the world is full of crooks and dishonest people. Trust has to be earned over a long period of time. You have to be much , much more careful my friend.
Know a bit more verifiable info about the other guy and use paypal next time.
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you can try contacting the bank and see if there's still time to freeze the transfer. there is a float time, I presume this is an international transfer.
but yeah, you may be stuck outta luck.
Okay. Now how should one pay? One cannot ask to get a bill and 2 weeks' time to pay it...
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If you are performing large dollar transactions and you do not wish to use Paypal, which has reasonable protection mechanisms, then you should look into 'letters of credit'.
These instruments are a guarantee by your bank to pay the seller when the specified terms of the letter of credit are met (such as proof of shipping). These are standard instruments for businesses that import materials. It allows payment timing that falls between 'pay in advance' and 'cash on delivery'.
- Glenn W9IQ
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If you are performing large dollar transactions and you do not wish to use Paypal, which has reasonable protection mechanisms, then you should look into 'letters of credit'.
These instruments are a guarantee by your bank to pay the seller when the specified terms of the letter of credit are met (such as proof of shipping). These are standard instruments for businesses that import materials. It allows payment timing that falls between 'pay in advance' and 'cash on delivery'.
- Glenn W9IQ
That's all well and good with an established firm, but "proof of shipment" is not safe enough with an unknown stranger.
What if the scammer shipped a cinder block? He's got your money and you have a cinder block!
I find it amusing that one of the optional "certifications" on AliBabba for companies is that the company ACTUALLY EXISTS!
It doesn't exactly inspire confidence when doing business there...
Caveat Emptor !
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There are never any guarantees for the buyer when having something shipped. But the letter of credit is far better than sending a pile cash and hoping (as apparently happened in this case).
- Glenn W9IQ
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People were receiving bricks rather than the designer bags they had ordered, and I was thinking, why would they even bother to send that? Now its clear they wanted the shipment proof to satisfy the payment.
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Glenn:
Like anything that adds "safety", a letter of credit adds costs and complications to both sides of the transaction.
Like Cashier's checks, Certified checks and Money orders of all varieties, letters of credit can be forged.
The best L/C would be a "CONFIRMED" L/C wherein the issuing bank separately "confirms" that the documents the seller has are genuine.
And, try getting your seller to accept something (s)he knows nothing about, drawn on a bank (s)he never heard of.
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No doubt it adds cost and complexity. The OP is apparently out >$5k. A few hundred dollars now stands out as cheap insurance. And the initial "hassle" pales in comparison to the current hassles.
- Glenn W9IQ
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Personally if I were involved with such a large transaction, I would spend the money to close the deal and take delivery in person. That would eliminate the "brick in the shipment" or getting a bad unit since you could walk on the deal if it is bad. Obviously in person safeguards would also need to be in place.