Scam or No Scam?

  • Thread starter Thread starter Grant
  • Start date Start date
cash is not always king either, a few years ago I sold a TH400 auto transmission, via evilbay, it was collected by a couple in a very new (as in the carpet tufts were still visible) Range Rover and I thought it strange that this albeit fairly clean transmission was loaded into the back directly onto the carpeted area, no protection, you just know its going to get marked and maybe leak a bit of fluid! not my problem I thought and seven fifty pound notes were exchanged for it, I checked them as best I could, and all looked OK, later that day I went to the post office for milk and a paper and had forgotten my small change, so offered a fifty from my back pocket, the shop scanner said NO!, he checked all the others and they were duff too, probably used the same stuff to pay the deposit on the RR.

later still that day I paid them into a high street bank and they were gone
CLEM
 
Paul LeClair said:
now we are being told CoVid19 may be transmitted on cash, have to disinfect any cash before handling
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Hmmm, that could be classified as money laundering?

I am still trying to get my head around why the Canadian cops wouldn't be interested in a $600k fraud. Do they only touch multi-million dollar cases? Or are they just incompetent or crooked?
An almost perfectly forged cheque points towards organised crime to me. The cops should be all over it!

As for PayPal, it does work incredibly well for the consumer but not necessarily the agent. I have put in a claim for damaged goods previously and it was very smooth. If the claim is won by the customer I believe money is refunded from the sellers bank account and there is nothing much they can about it, even if it puts them in debt.
In the UK if a debit card is used instead of PayPal there is a similar refund method called 'Chargeback'.
 
nick7 said:
Hi Paul  , I dont know what your kyc procedure is, but maybe review it before accepting intructions from a client you dont know , never met, etc, and presumably not known to your clients or firm?
You should see what we go through to check the source of any funds being used, (well in the old  pre virus days! ) for real estate purchases....
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Hi Nick

we have stringent "know your client rules" id verification, etc., etc. For us as well real estate transactions have now dropped off a cliff, just reduced paralegals work hours by 40 % and that is still being generous.

the scam I described would depend on the personal greed of a lawyer involved if that stupid, fee offered was 30% of recovery, so $180,000 for writing a demand letter and processing funds, very tempting for some. We now try not to accept any cheques, will not issue any cheques whatsover, has to be verified direct deposit, etc., etc. Can't take cash for more than $10,000 any more (anti money laundering rules). I think also part of the problem may be desensitization when dealing for years and years with very large sums of other peoples money, when you process say $50 - $100 million a month, $600,000 can seem as "small" amount and issuing a cheque off a trust account that holds say $50 million at any point of time can begin to seem a bit commonplace until you give yourself a shake and think about what $600,000 would mean personally.......

what really bothered me was the police indifference to the attempted fraud.... As to the other comment in this thread about waiting for deposit clearance before issuing funds, strange in the current electronic world that funds can not transfer quickly. Imagine being a real esate seller of a million dollar clear title property, getting to closing date, then being told the law firm cannot relase your money to you yet. Then when the sale proceeds become releasable to you, your own bank then freezes the funds for another several days.

Paul LeClair
 
Hi Paul,


I use a banking product (as will many others in Australia) called OSKO.  I like it because payments appear to clear almost immediately you send it to someone?s account.  As long as you double check all the account numbers and bank codes, it does what we all want to see - no banks hanging onto your money for a couple of days or so.


I?m sure we cannot be the only country with this payment system available...


Yogi
 
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