How do fraudsters get away with it?

Malthusian

barnstar2077 said:

I would really like to have the option of increased security on bank accounts.  Let me set in advance how much can be transferred without first needing to speak to someone at the bank to verify my details etc. 

Banks already do this with daily withdrawal limits, among other security measures. As it's they that are on the hook for frauds, it's their decision what limits to apply, not ours.

I have been idly wondering how many cases there are of someone falling "victim" to a scammer, having the bank give them all their money back, and then the "scammer" splits the "stolen funds" 50:50 with them.

Probably not very many, given all the drawbacks: you can't just pay the 50% back into the original account, most people aren't set up to live off laundered money, and there's nothing to stop the scammer keeping the whole 100%.

But it would be a pretty good story for an advance fee fraud. Most scams involve a suggestion of criminality, to make the riches seem more plausible and exploit the mark's greed while simultaneously deterring them from going to the police - this is the logical extreme.

barnstar2077

Malthusian said:

barnstar2077 said:

I would really like to have the option of increased security on bank accounts.  Let me set in advance how much can be transferred without first needing to speak to someone at the bank to verify my details etc. 

Banks already do this with daily withdrawal limits, among other security measures. As it's they that are on the hook for frauds, it's their decision what limits to apply, not ours.

I have been idly wondering how many cases there are of someone falling "victim" to a scammer, having the bank give them all their money back, and then the "scammer" splits the "stolen funds" 50:50 with them.

Probably not very many, given all the drawbacks: you can't just pay the 50% back into the original account, most people aren't set up to live off laundered money, and there's nothing to stop the scammer keeping the whole 100%.

But it would be a pretty good story for an advance fee fraud. Most scams involve a suggestion of criminality, to make the riches seem more plausible and exploit the mark's greed while simultaneously deterring them from going to the police - this is the logical extreme.

I was referring to online money transfers.