Bank Transfer Scam

cymruchris

Jewelscollectingdust said:

yes - I was allowed to keep the money 
no attempt was made to take it from me by the bank 

Good outcome - but a painful experience then -and a huge amount of learning all-round. You're definitely doing the right thing spreading out your finances through multiple banking groups - and fingers crossed you won't fall for this scam again (and hopefully neither will I).

born_again

Thanks for the update. Glad you got sorted. Can only guess that the lady's bank refunded her for the fraud/scam. 

Maybe keep a eye out for the item appearing on ebay or such. Might give you something to go on. 

Shakin_Steve

Fair conclusion to the matter. I'm guessing it will be difficult for you going forwards not to treat every customer as a potential scammer. I hope it doesn't taint your outlook, but a dose of caution in your future dealings won't do any harm.
Thanks for keeping us up to date.

Eco_Miser

A good result in the end, and possibly the bank is reviewing its procedures for investigating alleged fraud, but still a terrible experience for you.

I have not closed the offending accounts - but unsure how much use they will now get - probably not much as so much effort got put into mitigating the effects of this by setting up new banking arrangements

It might be useful to use the account for receiving customers' payments by bank transfer, as that bank already has evidence that you are a bona fide trader.

jimjames

The only thing I can see as a way to possibly mitigate against it for the future is to have a separate account at a separate bank to receive payments into. I tend to do that when I receive payments by transfer from people I've not dealt with before. It wouldnt stop the account being frozen but it would stop the impact on your life

born_again

Eco_Miser said:

A good result in the end, and possibly the bank is reviewing its procedures for investigating alleged fraud, but still a terrible experience for you.

r.

Trouble is. Other party reports fraud on a renting scam. Money goes to a account, as far as that person is aware it is the scammers account. Not a innocent 3rd party that has also been scammed. Once it is reported to the bank. They have to duty to block account to stop any of the balance being removed. Even if it is general utilities payments. As they have no idea that the whole account is set up as a scam.
No other way they can do it.

Given the number of scams it just takes time to investigate things. Made even worse when needing for the banks to talk to each other. Many staff do not work 9 to 5, so may take time to there being a crossover between staff dealing with the case.

Only way would be one account for incoming payments. Then a 2nd account at another bank where all bills come from and funds are transferred from incoming account to the billing account.
Would make life interesting for a accountant....