Police to text 70,000 victims in UK's biggest anti-fraud operation

phillw

Band7 said:
They pay into an account they are connected with - though this wouldn't be immediately obvious

Then they run to the bank and scream blue murder
Banks reimburses them, mainly because consumer organisations & now the FCA force them to - kerching!

I'm sure that happens, but insurance fraud exists too. What do you do? Ban all insurance to wipe out insurance fraud?

Banks need to give people confidence to use their services. What they do now when you set up a new payee would put a lot of people off to even bothering.

I'd rather they offer some kind of public key certificate when sending payments.

masonic

Band7 said:

P1Fanatic said:

So people knowingly pay into a scam with the hope that they may get the money they invested paid back as compensation? What is the point of that as best case they end up no better off than when they started.

Well they have a cunning plan, which goes a bit like that:

They pay into an account they are connected with - though this wouldn't be immediately obvious
Then they run to the bank and scream blue murder
Banks reimburses them, mainly because consumer organisations & now the FCA force them to - kerching!

Of course banks aren't entirely daft and have substantially increased their measures to catch these thieves red handed.

That would be a big risk to the perpetrator as it wouldn't take a lot to follow the money and convict them of fraud. Such a criminal conviction would have some quite limiting and long-lasting consequences.

Band7

masonic said:

Band7 said:

P1Fanatic said:

So people knowingly pay into a scam with the hope that they may get the money they invested paid back as compensation? What is the point of that as best case they end up no better off than when they started.

Well they have a cunning plan, which goes a bit like that:

They pay into an account they are connected with - though this wouldn't be immediately obvious
Then they run to the bank and scream blue murder
Banks reimburses them, mainly because consumer organisations & now the FCA force them to - kerching!

Of course banks aren't entirely daft and have substantially increased their measures to catch these thieves red handed.

That would be a big risk to the perpetrator as it wouldn't take a lot to follow the money and convict them of fraud. Such a criminal conviction would have some quite limiting and long-lasting consequences.

Well yes - but some fraudsters are exceptionally thick, as Macarthur Wheeler did prove.

masonic

Band7 said:

masonic said:

Band7 said:

P1Fanatic said:

So people knowingly pay into a scam with the hope that they may get the money they invested paid back as compensation? What is the point of that as best case they end up no better off than when they started.

Well they have a cunning plan, which goes a bit like that:

They pay into an account they are connected with - though this wouldn't be immediately obvious
Then they run to the bank and scream blue murder
Banks reimburses them, mainly because consumer organisations & now the FCA force them to - kerching!

Of course banks aren't entirely daft and have substantially increased their measures to catch these thieves red handed.

That would be a big risk to the perpetrator as it wouldn't take a lot to follow the money and convict them of fraud. Such a criminal conviction would have some quite limiting and long-lasting consequences.

Well yes - but some fraudsters are exceptionally thick, as Macarthur Wheeler did prove.

Fair point, but I think we can sleep safely at night in the knowledge that these types really don't stand a chance. I think the vast majority who fall for scams are genuinely being taken advantage of rather than trying to pull a fast one, and some do get compensated, arguably without justification in some cases. Some could have or should have suspected it was too good to be true. FSCS has rolled over on claims it had no need to pay on several occasions for example. I suspect adindas was referring to something like this.

masonic

Thanks for deleting your other abusive posts and editing out insults from those that remain. If you want to get rid entirely, then I'm happy to reciprocate for my side of the exchange.

masonic

ashby6567 said:

I'll delete the aforementioned posts in due course, I've deleted the majority of my posts this morning and unexpectedly I've been 'promoted to newbie status' once again and unable to amend my posts until I regain status. I apologise unreservedly for my uncalled for and uneccessary post on forum today. Admittedly downright shameful behaviour on my part.

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  Congratulations! You've been promoted to MoneySaving Newbie. 

  Today at 11:53AM

Apology accepted. I didn't know that newbie status could come back either.