Credit Suiisse 2.7% bond

Aretnap

Enigmaman said:

Is this scammer entitled to the money if she does not notify him within 14 days?     

I imagine they'll make all sort of threats if she doesn't pay, but she shouldn't be concerned. An out and out scammer like this fellow whose name is on an FCA fraud alert isn't actually going to take her to court and stand up in front of a judge to demand that she pay him, for obvious reasons. And without doing this first, they cannot put black marks on her credit rating, send the bailiffs round, or do any of the other things that they might threaten.

If she's told the bank what's happened and the bank have advised that there's no risk of the scammers actually getting money out of her account then I would be reasonably reassured - if the bank were wrong and the scammers did somehow manage to make an unauthorised withdrawal she would be in a strong position to make a complaint to the bank and have the bank compensate her for the lost money. (Of course if she can easily move all the money out of the account that makes things doubly safe - they certainly can't take what isn't there.)

doe808

The full amount needs to be taken out the account now. It would be idiotic not to do this. Your relative appears to be able to work the internet to a certain extent. Show them this thread.

No further contact with the scammers either.

eskbanker

Albermarle said:

I want her to take the whole lot out of the account.

This would seem the safest option . If there is no money there they can not take it .

Aretnap said:
Of course if she can easily move all the money out of the account that makes things doubly safe - they certainly can't take what isn't there.

This isn't strictly true - it isn't safe to assume that her bank would decline a transaction that would take her into an overdraft, whether arranged or not.  However, it's still not clear what authority the scammers would have for such a transaction though, if it's simply sort code and account number that she supplied rather than debit card number then that only really permits a direct debit, so the bank should honour the customer's wish to revoke any DD permission granted....

Enigmaman

doe808 said:

The full amount needs to be taken out the account now. It would be idiotic not to do this. Your relative appears to be able to work the internet to a certain extent. Show them this thread.

No further contact with the scammers either.

She has now drawn out all but £500.
I will urge her to close the account down or ask for the number to be changed but as has been said above it is difficult to see what authority the scammers have to take any money - yet.

I have indeed shown her this thread and she now accepts she has been "done".

My sincere thanks for the help of everyone on this thread for stopping this family losing £10,000. Left to her own devices she would have signed away the money early definitively next week. 

doe808

Enigmaman said:

doe808 said:

The full amount needs to be taken out the account now. It would be idiotic not to do this. Your relative appears to be able to work the internet to a certain extent. Show them this thread.

No further contact with the scammers either.

She has now drawn out all but £500.
I will urge her to close the account down or ask for the number to be changed but as has been said above it is difficult to see what authority the scammers have to take any money - yet.

I have indeed shown her this thread and she now accepts she has been "done".

My sincere thanks for the help of everyone on this thread for stopping this family losing £10,000. Left to her own devices she would have signed away the money early definitively next week. 

Pleased that she been sensible.

maxsteam

Googling the reference number lands two results. This thread and a document in Italian. It's not genuine. Googling a similar reference number will find a genuine Credit Suisse bond but the title interest rate is the rate at the time of issue, several years ago. The price of the bond will have moved so that the return is comparable to other similar bonds.
Lots of people are looking for a safe investment that pays a little bit more than retail bank rates and lots of scammers are ready to offer this.

Albermarle

Lots of people are looking for a safe investment that pays a little bit more than retail bank rates and lots of scammers are ready to offer this.

Yes we have many newbie posters coming on this forum looking for exactly that - a 100% safe investment that pays more than bank savings rate . As we all know there are no legitimate products offering that , only dodgy ones.