Fake Banking App Theft

GeoffTF

Here is a cautionary article form the BBC, "Scammers used fake app to steal from me in person":

https://www.bbc.co.uk/news/articles/cn05d58jwvdo

Be very careful if you accept payment by bank transfer for goods collected!

Nasqueron

Good warning though not new, a fake app to pretend payment is made and rely on you giving up waiting for the money to transfer. Faster payments are largely instant these days, no payment received = come back tomorrow please

grumpy_codger

Nasqueron said:

... a fake app to pretend payment is made and rely on you giving up waiting for the money to transfer. Faster payments are largely instant these days, no payment received = come back tomorrow please

................

While Mr Rudd was waiting for the money to appear in his bank account, he turned his back to pick up accessories to hand over as part of the sale.
The scammer used this opportunity to leave with all the tools...

grumpy_codger

How to avoid the scam

UK Finance ... gave the following safety advice:
Do not be pressured into accepting payment by bank transfer

Unfortunately, even a genuine and instant bank transfer from a stranger isn't safe nowadays. Our authorities left us without any absolutely safe ways of accepting private payments except, possibly, cash deposited by the buyer over a counter (or ATM?) to the seller's account.

HillStreetBlues

grumpy_codger said:

Nasqueron said:

... a fake app to pretend payment is made and rely on you giving up waiting for the money to transfer. Faster payments are largely instant these days, no payment received = come back tomorrow please

................

While Mr Rudd was waiting for the money to appear in his bank account, he turned his back to pick up accessories to hand over as part of the sale.
The scammer used this opportunity to leave with all the tools...

It seems he's confused on what it actually is, it's either a banking app scam, or legging it without paying.

Section62

grumpy_codger said:

How to avoid the scam

UK Finance ... gave the following safety advice:
Do not be pressured into accepting payment by bank transfer

Unfortunately, even a genuine and instant bank transfer from a stranger isn't safe nowadays. Our authorities left us without any absolutely safe ways of accepting private payments except, possibly, cash deposited by the buyer over a counter (or ATM?) to the seller's account.

AFAIK most banks wouldn't allow this either - the buyer could give you the cash for you to deposit yourself, with them present if need be.  But without your debit card (and who'd give that to a stranger) banks won't accept cash deposits.

grumpy_codger

Section62 said:

grumpy_codger said:

How to avoid the scam

UK Finance ... gave the following safety advice:
Do not be pressured into accepting payment by bank transfer

Unfortunately, even a genuine and instant bank transfer from a stranger isn't safe nowadays. Our authorities left us without any absolutely safe ways of accepting private payments except, possibly, cash deposited by the buyer over a counter (or ATM?) to the seller's account.

AFAIK most banks wouldn't allow this either - the buyer could give you the cash for you to deposit yourself, with them present if need be.  But without your debit card (and who'd give that to a stranger) banks won't accept cash deposits.

That's what I meant - both the buyer and the seller coming to a branch.

Theleak250

Sorry I’m a bit confused here, the seller told the fake buyer their account details, I assume account number and sort code, the fake seller then typed this into a fake app and vast sums were withdrawn from the victims account?

grumpy_codger

Theleak250 said:

Sorry I’m a bit confused here, the seller told the fake buyer their account details, I assume account number and sort code, the fake seller then typed this into a fake app and vast sums were withdrawn from the victims account?

"He [buyer] handed his phone over to me [seller] and I typed in my account details, clicked send, and it came up with a successful payment notification," Mr Rudd said.

Theleak250

So they didn’t lose any money but just the items they were selling? I would insist on cash in such circumstances. 

boingy

Theleak250 said:

Sorry I’m a bit confused here, the seller told the fake buyer their account details, I assume account number and sort code, the fake seller then typed this into a fake app and vast sums were withdrawn from the victims account?

No, nothing like that. He just didn't pay. The app made it look like he had paid and the seller did not check his own account to see if the funds had arrived. 

These days I really don't know how a private individual can safely take payment apart from cash, which is only really practical for smaller values. Even a legit transfer can be recalled if the buyer reports it as fraud.