Seller Beware…



This is a cautionary tale about bank fraud for anyone that sells things. (online or otherwise). A man sold a car online, the buyer sent a check for several thousand more than the buying price. He claimed it was to cover extra shipping costs and for the seller to just wire him the excess which turned out to be $5000. He felt a bit suspicious of the check and inquired a couple times if the check was ok, the teller confirmed that the check was fine.


While checking out his account online, he discovered the check WAS bad and the bank wanted him to replace the 5000 dollars. This is basically advance fee fraud. The “buyer” has a stolen check (or forged) with a good account number, there’s an initial attempt to see if the account is good for the funds, then the target sends the “excess” back before the fraudulent check is discovered. This is attempted quite often it seems (The details of this are remarkably similar to an event I was told of last fall regarding a client that was selling online.)

My basic thought is this… if there is anything strange about the payment, proceed with GREAT suspicion. I think in the case I was told of, they were overseas and wanted to purchase an item, they would send MORE than the amount required in a bank draft, but had a “friend” travelling in country that could pick up the item and the change…… this way they could transfer money to the “friend” at the same time. (Or something close). In that case, they contacted the FBI and it sounded like the fraudster got “stung”.

Seller Beware

Related Posts

Blog Traffic Exchange Related Posts
  • New Beagle/Bagle variant? So, I submitted the suspicious attachment I received to virustotal (scan@virustotal.com with SCAN in the subject and suspicious file as attachment.) What follows below is the report I received. It looks like some of the big names (Symantec, McAfee are not finding anything wrong with it at this point, with......
  • All old scams are new again.... Last week I got a notice of this warning.... it seems that scammers are sending out emails claiming to be from the FDIC (Federal Deposit Insurance Corp.) and the email claims that the government will no longer insure your bank deposits unless you validate certain information... Apparently this first surfaced......
  • System patching 0-days and ancient-day vulnerabilities There's a good article at Michael Sutton's Blog which points out something that really makes sense and I think many people are aware of, but with all the buzz that a new previously undisclosed vulnerability has, we forget. The point is this, there are plenty of machines online vulnerable to......
Blog Traffic Exchange Related Websites
  • Free Checking & Debit Card Cashback from PerkStreet PerkStreet Financial is now offering debit card rewards unheard of until now: Earn 2% cash back on every non-PIN purchase when your balance is $5,000 or more or earn 1% cash back for balances below $5,000. Plus, earn 5% cash back for the rest of June and July when......
  • Online Banks: Real People's Thoughts We had a bad experience with Bank of America for our joint account, so my husband and I decided to switch banks. We first look at the banks where we hold our individual accounts. He uses Wachovia and I use a local credit union. We first look at the......
  • Banks Do Hard Credit Inquiries On Checking Accounts Did you know that some banks pull your credit score when you apply for a checking account? And did you know that some banks require a minimum credit score in order to accept you? Many banks simply use ChexSystems, which is a network comprised of financial institutions that regularly contribute......
PDF24    Send article as PDF   

Similar Posts


See what happened this day in history from either BBC Wikipedia
Search:
Keywords:
Amazon Logo

Comments are closed.


Switch to our mobile site