To save you reading the whole article I referenced, the clincher is that the
"buyer" sends a cashier's check for an amount in excess of the purchase
price. The seller deposits it, and asks his bank when it will "clear". The
bank tells him he will be credited the amount in 2 days, or 5 days, or a
week. At that time the seller ships the goods, and refunds the difference
(the cashier's check is always an overpayment for some plausible reason) out
of his own account.
10 days or 2 weeks later, the bank finds out that this cashier's check drawn
on a remote bank is a forgery, and dishonors it, and asks the seller to
redeposit money to cover it.
The scammer is counting on the fact that people assume that when the bank
credits your account with a deposit, it must be good. This is not true --
they reserve the right to dishonor it if the isuing bank refuses payment,
which of course takes additional time for the transaction to be processed,
and an investigation made into the apparent forgery.
This is essentially a small-scale version of the Nigerian bank scam, without
the complexity of wire transfers, but with the added fillip of forged paper
checks.
on 2/28/03 4:51 PM, David Councill at dcouncil@imt.net wrote:
> Yes, indeed. Wasn't it on this list recently? They pay excess amount, want
> some of it sent back or sent somewhere else, then weeks later the bank says
> the funds are no good so you are out that excess you sent off. A few people
> were pissed because their bank assured them it only took a few days to
> insure funds were good, then a week or two later told them the money was no
> good.
>
> If its a real deal, make sure they pay what is due, no excess, and allow
> several weeks to insure the funds are good (or get your bank to sign off on
> something to that effect) before you make the next move.
>
> David
> 67 BGT
> 72 B
>
> At 07:23 PM 2/28/2003 -0500, GMGoodman@aol.com wrote:
>> I have a MGB listed at mgcars.org . I have been contacted by a person who
>> claims to have a client in Dubai, United Arab Emirates...is ready to bank
>> transfer money into my account...has not seen the car or asked one question
>> about it...sounds like a scam to me ...I have asked for info and
>> references....anyone ever hear of such a deal?
>
--
Max Heim
'66 MGB GHN3L76149
If you're near Mountain View, CA,
it's the primer red one with chrome wires
/// or try http://www.team.net/cgi-bin/majorcool
/// Archives at http://www.team.net/archive
|