Bank Transfer Scam

soolin

I have moved this with permission from the OP as I am unsure what the regulations are around protecting recipients of a bank transfer- and what time frames the banks have to resolve a serious issue. I'm hoping those more knowledgeable about bank systems might be able to help. 

eskbanker

Bank transfers aren't safe in the sense of being irrevocable - if a sender claims some sort of fraud, then their bank will contact the recipient's bank and the funds/account will be frozen while the matter is investigated.

Unfortunately in this case, I suspect that OP's bank will return the money to the sender, thus depriving OP of both the money and the gold, however unfair that might seem to be....

dj1471

This is one of the scenarios I describe every time someone on the eBay board claims that bank transfers are safe.

It goes to show how much effort a scammer will go to where high value items are involved. The scammer has the goods (will be intercepted at the delivery address one way or another) and nothing can be linked back to them.

OP there may be some protection for you if your bank is signed up to the APP code:
https://www.psr.org.uk/our-work/app-scams/

Though I suspect you will have to fight for it as it’s designed to reimburse people tricked into sending money, not people who innocently receive fraudulent payments.

jimjames

Sorry to hear about this, but it's a very useful warning as this scam could be applied to so many different scenarios where high value payments are made for items.

Momanns

Sounds like it's with the fraud team (and not one of the other investigation teams) - depending on the bank this can take a few weeks at least. Technically this is a scam so the person who paid the money is potentially the one to lose out but that's up to their bank. 

I'd be tempted to go the branch anyway and explain the situation. They can take copies or evidence the emails/contact you have with the fraudster.

It's frustrating but sit tight and let the investigation run its course. Any issues and people on the forum will always be able to offer advice etc. 

pbartlett

the branch are by law prohibited from talking to you about this matter.

RFW

Jewelscollectingdust said:

I keep asking myself - where did I go wrong here ?
I want to be able to sell online - and I always thought bank transfer was the safest option for higher value items 

It's really difficult to say that you have done anything wrong. This is a "good" con it plays on the knowledge that a bank transfer is safe. The person who paid into your account is the one who could have done something different. Unfortunately, it looks like they will be the ones who will get their money back, I can't see that the bank would have any alternative.

born_again

Jewelscollectingdust said:

The worrying thing is - I have given details of the delivery etc to the bank and offered to supply them with the full email transcript regarding the whole transaction plus the address the parcel was sent to etc etc
They also have the action fraud numbers 

So far they have told me to keep the information to hand - I may have to take it into a branch but not to supply it yet.

The thing that I find irritating here is that a way to have stopped this scam dead in its tracks is basically for the bank to add an imformation box regarding this type of transaction - that details what the transaction was for - ie goods services etc

All you see when you check online banking is the persons name that sent the money - nothing else

Had I seen the persons name plus a comment like - "Property Deposit" - straight away I would have rang the bank knowing something was wrong

That is one hell of a scam, especially given the extended timescales. They are getting more tricky to spot all the time. 

The bank will not be able to do anything with the information, other than it backs up what you have verbally told them.. They will be working with the other bank.s They do not go chasing the fraudster. That is the police's role.

As you know, since covid No one signs for any delivery. It will be the postman that signed it.

How long it will take will depend on may factors. Nothing will get it sorted any quicker.

Hope you do get it sorted.

soulsaver

Where was this sale advertised? 

Thrugelmir

Jewelscollectingdust said:

I was contacted by a friendly person asking if he could buy them direct from me with a little discount 

Was this to avoid paying Ebay fees?