South African deposit and refund scam warning

Kingofmybbknowitalls

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Sep 16, 2015
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Who the heck still writes or accepts cheques?

Like faxes it should have been completely phased out by now.

Quaint 20th-century bartering option.
 
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Kingofmybbknowitalls

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Sep 16, 2015
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658
Nothing new here, these scams have been around for years.
Yes, and yet people are still caught out. That's why they keep on doing it.

The same goes for the trick where some guy enters a business with some excuse, but he is really scoping out the place for laptops and cellphones to come and 'collect' later on while his accomplice is distracting the receptionist.
 
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siraman

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Jan 13, 2009
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They later notice that the original deposit was reversed as it was made with a fraudulent cheque.
7 day clearance period? Would it not apply here?

Who the heck still writes or accepts cheques?
Yeah...quite shocked at this.
 

NarrowBandFtw

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Feb 1, 2008
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Who the heck still writes or accepts cheques?
'MURICA, f-yeah! ... i.e. cheques are still very widely used in USA, hell they've even automated some of the processing like ATMs having bulk cheque depositors so you can stuff a stack of them in at a time instead of individually

When it comes to electronic payments, cheques and chip cards the world went one way and USA pretty much went another way for some inexplicable reason.
 

HBee

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Dec 19, 2007
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How are the accounts created to accept the fraudulent funds ? I guess the Fica process does not apply to everybody.
 

Arthur

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'MURICA, f-yeah! ... i.e. cheques are still very widely used in USA, hell they've even automated some of the processing like ATMs having bulk cheque depositors so you can stuff a stack of them in at a time instead of individually

When it comes to electronic payments, cheques and chip cards the world went one way and USA pretty much went another way for some inexplicable reason.
Because most people in the USA are honest and law-abiding. Seriously. Most large stores in middle America have self-check-out if you want it, scan and pay without anyone watching. No security at the door to check customers' packets. Rely on honesty. And it works.

When my daughter gets a cheque she deposits it in 10 seconds - snap with a smartphone cam, press Deposit, and it's done. It's easier than logging on to a bank website.
 
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NarrowBandFtw

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Feb 1, 2008
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Because most people in the USA are honest and law-abiding. Seriously. Most large stores in middle America have self-check-out if you want it, scan and pay without anyone watching. No security at the door to check customers' packets. Rely on honesty. And it works.

When my daughter gets a cheque she deposits it in 10 seconds - snap with a smartphone cam, press Deposit, and it's done. It's easier than logging on to a bank website.
LOL no, no they are not, USA has a serious credit card fraud problem which can instantly be solved by implementing the world standard of chip cards, but no, they prefer self-checkout with a stylus and touchpad for your signature :wtf:

take their own research for example: http://www.nasdaq.com/article/credit-card-fraud-and-id-theft-statistics-cm520388
Most card fraud occurs in the United States. In fact, a 2015 research note from Barclays stated that the U.S. is responsible for 47 percent of the world's card fraud despite only accounting for 24 percent of total worldwide card volume
 

diesel

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Mar 4, 2007
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Who the heck still writes or accepts cheques?

Like faxes it should have been completely phased out by now.

Quaint 20th-century bartering option.
you don't need to accept the cheque , if a scamster wants to purchase something from you he deposits a cheque from closed account into your bank account ,the value will show in your account immediately but it takes about a week for the bank to clear the cheque , he then forges a proof of payment which is easily done with a scanner and word , he sends you proof of eft payment , you look into your account and send him the item , a week later when cheque bounces you lose item and cash.
 
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