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
  • Outlook 2003 Unable to Open Attachments I've seen a lot of strange behavior from windows updates, but this apparently wasn't one. Essentially here is what was going on: the user would try to click on an attachment in Outlook 2003, particularly those that were forwarded emails. Then, nothing happened. No message, no error, nothing. Just doubleclick......
  • Disappointing trend for online banking sites Given how easy it is for people to be fooled by phishing sites, you would think banks would try and keep as many "easy ways to identify a legitimate bank site" as possible wouldn't you? I mean, user-friendliness is certainly a big selling point in things software and even web......
  • 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
  • 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......
  • Where to Buy Stamps Online People who break into the world of stamps often find themselves wondering about where to buy stamps online as well as in person. Having a guide to the best places for where to buy stamps is always a good idea. One of the places where you can buy stamps online......
  • Online Money Fraud Hits Home Online money fraud is a threat to every family, even those like mine that try to be careful in everything financial.  Here is what happened. Yesterday my youngest son called me about purchasing a used XBOX 360 game console on eBay.  I told him that it was not how I......
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