Fraud - but why?

jd87

I've received a letter at my parents' house (I no longer live there) saying I've signed up to a magazine subscription and the direct debit has been set up. It's my name and my correct bank account number and sort code. I have absolutely no knowledge of it.

A similar thing happened to me a few years ago. That time it was pet insurance and gas/electric. I never got any answers back then, and the gas/electric contract was a pain to cancel. Why would a fraudster do this? What can they possibly stand to get from it? I have always suspected it is cashback fraud. Does this exist? Anyone with experience of this?

paragon909

jd87 wrote: »

I've received a letter at my parents' house (I no longer live there) saying I've signed up to a magazine subscription and the direct debit has been set up. It's my name and my correct bank account number and sort code. I have absolutely no knowledge of it.

A similar thing happened to me a few years ago. That time it was pet insurance and gas/electric. I never got any answers back then, and the gas/electric contract was a pain to cancel. Why would a fraudster do this? What can they possibly stand to get from it? I have always suspected it is cashback fraud. Does this exist? Anyone with experience of this?

Free gas and electric for a few months, Or free magazines for a while...

Anyone can setup a direct debit in an other address, This isn't checked when when getting setup, Although maybe they should introduce more checks before a direct debit can debt funds.

realaledrinker

Slightly off topic but when I tried to set up a DD on my Tesco savings account the other day to blag yet another switching bonus I got a letter asking for documentary evidence of the account to be debited, including original bank statements.

colsten

paragon909 wrote: »

Although maybe they should introduce more checks before a direct debit can debt funds.

Why? It would costs an absolute fortune to check every DD before it gets set up. If you do get an incorrect/fraudulent DD on your account, you can immediately cancel it, and you have the DD guarantee on your side so you won't lose money.

bobobski

These DDs may have been a test to see if you notice before a larger fraud is committed, particularly as they are mundane and small sums are involved. Then again, some fraudsters just do it for sh*ts and giggles.

jd87

paragon909 wrote: »

Free gas and electric for a few months, Or free magazines for a while...

The gas/elec was for supply to my parents' house, and the magazines would have been delivered here too.

NectarCollector

jd87 wrote: »

The gas/elec was for supply to my parents' house, and the magazines would have been delivered here too.

Guessing the fraudster just wanted to waste your money, or maybe someone in your house didn't want to pay for these things themselves?

I guess someone stole your bank account details along with an old address

jonesMUFCforever

jd87 wrote: »

The gas/elec was for supply to my parents' house, and the magazines would have been delivered here too.

..............But the cashback etc would have gone to the person committing the fraud.

planteria

agreed jones.. that is the only angle i see here.
unless, somehow, the delivery address for the magazines had been changed, or would be later on:think:

jd87

So we agree then that cashback fraud is something that happens? That was my initial question.

colsten

If it does, it is incredibly rare. Literally nothing of the sort you reported comes up when you google for it.