107

This is another version of an old scam -- "let me have a check deposited in your account because I can't open one for some reason, and I'll share some of the money with you." Here the scammer is promising to "start a business" with you as a way to gain your confidence and trust. The first danger sign is that you only know this person from online. They are ...


78

Because banks still rely on processes and software that were established many decades ago, when constant, semi-instant communication was not technologically possible. Instead, you would have batch processes that run on huge mainframe computers overnight. Changing these processes is extremely difficult, because there are so many things tying into it - taxes,...


59

There are two things wrong with this: Sketchiness with bank information. He could be: Planning to take money out of your account. Pay with reversible/fake/stolen money, then ask you to partially pay him back. Pay with reversible/fake/stolen money, then do nothing (i.e., just so he can get your account for free) Sketchiness with buying an aged Amazon ...


35

I know people who work in the gulf and most contracts are of the 14 days on/ 14 days (or so) off flavor. I've never heard of someone being onboard a ship or platform for a year. I bet this is a scam.


26

I don't know which online casino we are talking about, but I would venture to say that online casinos, in general, are probably not the most trustworthy of businesses. Caution is certainly in order. That having been said, this isn't an e-mail from a stranger that contacted you out of the blue; you obviously trust them enough to have deposited some money ...


22

Actually, its a bit more complicated than the other posts suggest. Transferring money between two banks is a rather complicated thing, as you are really just transferring information about the value, so you need to address issues of trust and double-spending. To minimize the necessary transfers it may make sense for a bank to collect some more orders and ...


21

I should send him my bank account info so he can wire the money. To be quite honest, this is perfectly legitimate. It's how wires work. Also, you give out your bank info every time you write a check. (Let me strongly emphasize: legitimate wire transfers do not require your bank username/password. All that's needed is the bank's routing or IBAN number ...


16

100% scam. This is classic of mixing real (Exxon) with fiction. This gives credibility to story. Don't give any thing, there is no damage yet. If you take the bait, there are multiple ways to get money from you.


15

The real goal may be to identify suckers Con games on the Internet are getting very, very smart. There's a trick: Screening victims to exclude the savvy. They want the right ratio of greedy, naïve and crooked... and they don't want anybody else. Microsoft Research wrote an amazing paper about how scammers deliberately mention "Nigeria" to repel the ...


13

Typically, a transfer of money isn't taxed in and of itself. If they send you $1000 and you send them goods, your profit is what would be taxed, not the full amount sent to you. You need to keep track of all money you spend to acquire the goods, and all money coming in, so you can declare the profit you've made as income. Your question appears to be less ...


13

If your "friend" is threatening your son and you, you go straight to the police. If this "friend" is not someone who you have known in person for a long time, then it is quite possible and even likely that the "sending money for your friend" is some kind of scam. So: Call the police, and call Western Union. If Western Union "flagged" this transaction, ...


13

Is it a scam? Yes. what should i do??? Stop responding to scammers on the internet when they message you. How will I get scammed if I send my bank details? It doesn't matter. You don't have to understand how the scam works in order for it to be a scam. The real scam might not even involve your bank details. They might be asking for your bank ...


12

With BofA, you can just enter their address and it will mail them a check instead of needing to wire it to them. You don't need your landlords permission to do this (just let him know to expect the check in the mail). I did this for years, and other than the fact that the arrival date may vary by a day or two (presumably due to mail or processing delays), ...


12

Are there any advantages to layaway? There are two main advantages. First, when you pay the initial deposit the seller reserves the item for you at a given price. This is helpful with unique products, like a high-end custom-made watch. If there is only one of those watches in the entire world, then it's nice to know that the seller won't sell it to anyone ...


12

To answer your question directly: There is no honour among the thieves, so it's possible your partner in crime is trying to scam you. First of all - selling Amazon account is against its ToS. See: https://www.amazon.com/gp/help/customer/display.html?nodeId=201909000 Second of all - you need an account number to wire the money. Duh. (To clarify: I mean the ...


11

Wire transfers Wire transfers normally run through either the Fedwire system or the Clearing House Interbank Payments System (CHIPS). The process generally works like this: You approach a bank or other financial institution and ask to transfer money. You give the bank a certain code, either an international bank account number or one of several other ...


11

"A friend since July online" and big business talks and trust/money forwards. Usually a question "is this a scam or legitimate?" is hard to answer since obviously scams are modelled after legitimate stories (or they'd easily fail). If there were bookmakers for "scam or legitimate", this one would easily gather odds of 10000:1. The only plausible reason ...


11

the receiver says the fund is put on hold. What does that means? It means you shouldn't trust people who have scammed you. What now? Stop communicating with the scammer. Work with your bank and your local police


11

It is true - your bank can do nothing You wired the money, then realized you'd been duped. It wasn't an unauthorized wire transfer. You authorized it. Things like and wire-transfers are designed so you cannot take it back. Wire-transfers are not credit cards. Credit cards offer fraud protection to encourage use. Most of the time when you dispute a ...


10

I'm not sure I understand your question, but I'll try to answer what I think you're asking. I think you're asking this: "A US bank receives a wire transfer from a Chinese bank. How does the US bank ensure there's any money in fact arriving before crediting the destination account?" Well, the way wire transfers work is that the US bank would debit ...


10

As a woman who was once married to someone who worked offshore in the North Sea, in the Gulf of Mexico, off the coast of Nova Scotia, in fact all over the world...and my husband's rig was contracted through Exxon (by the way, Exxon contracts rigs, but doesn't own any), this is most certainly a scam. Even if you do not believe all the above information, I ...


9

If you are on the receiving end, you will not need to provide any information to your bank. Wire transfers are initiated by the sending party. If you are sending a wire transfer, you will need to provide the following information about the recipient: ABA/Routing number of the receiving bank Name/address/phone number of the receiving bank Recipient's bank ...


9

It depends on transfer agreements between banks. SEPA is an initiative providing such agreements, albeit at a European level. When you transfer money between accounts within the same bank, the bank has complete control and knowledge of the funds and their availability. Therefore, the transaction is instant because the bank can guarantee the availability of ...


8

I don't believe there is any particular structural or financial reason that outgoing wire transfers cost so much in Canada, their costs are no higher than other countries (and lower than many). Wires seem to be an area where the Canadian banks have decided people don't comparison shop, so it's not a competitive advantage to offer a better price. The rates ...


8

I prefer to use a Foreign Exchange transfer service. You will get a good exchange rate (better than from Paypal or from your bank) and it is possible to set it up with no transfer fees on both ends. You can use an ACH transfer from your US bank account to the FX's bank account and then a SEPA transfer in Europe to get the funds into your bank account. ...


8

Because US banks would rather use (free) ACH instead. From https://www.nerdwallet.com/blog/banking/ach-transfers/ (mirror) Delivery of ACH transfers can take several business days, meaning days that banks are open. Unlike the real-time processing that wire transfers have, ACH network operators process transfers in batches only three times a day. […] ...


7

I have heard that I can give 10k as a gift in cash for my aunt to take on the plane. Please don't, for her own safety. Don't know when was the last you've been to Russia, but that's not a place to walk around with $10K in cash in your pocket. For the rest, the 20k, I am not sure what is the best course of action. Would something like Western Union, ...


6

It is not a loophole. Things is not money. FBAR is only about bank accounts, so if you have $9000 on your bank account it is not the same as having $9000 worth of stuff hoarded in your apartment. FBAR should be filed if at any day of the year the total of all the foreign bank account balances is over $10K. It has nothing to do with non-monetary possessions (...


6

If you have quoted an incorrect number, and the transfer has happened, it cannot be reversed. The funds are already with the individual and bank cannot debit the individual without his authorization. The best course for you is to try get the details of the individual and see if the funds can be moved to the correct account.


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