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An unprecedented wave of online bank fraud is hitting Britain

reuters.com

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Re: An unprecedented wave of online bank fraud is hitting Britain

#81

Post by BiteCode_dev »

ajsnigrutin wrote: post #75
BiteCode_dev wrote: post #60

Earlier quoted context omitted.

Unless the fraudulent transaction is due to the fact you just lost your credit card.

Well yeah.. but again, the number could also be in the footer of the banks website. People usually get scammed when they have the card with them... when they lose the card, they're the one actively looking for a phone number, and not presented with one from a scammer.

- "Sir, I'm calling you because I found your card, I called your bank, and they gave me your number. They told me you should report the card as lost in case it's been used fraudulently with the phone number that is written at the back of the card"

- "Can you send me back the card?"

- "I'm in a train, I won't be able to do that for a while. You should really call"

- "But I don't have the number"

- "I can read it to you"

Pwn

Re: An unprecedented wave of online bank fraud is hitting Britain

#82

Post by KptMarchewa »

ryanlol wrote: post #70
mysterypie wrote: post #68

What's always missing from stories like this is how the crooks get the money out. Considering that all Western governments have achieved total surveillance on our banking and made it impossible to have anonymous bank accounts, I'd like to see a detailed analysis about why they can't follow the money and see who gets it. Every scenario I can think of seems like it should be either traceable or actionable. Scenario 1:…

There are organizations creating thousands of bank accounts to cash out transactions like this for a percentage. They use fake IDs, there’s no way to stop them. Catching the people opening the accounts leads you to nowhere, they rarely even know their bosses.

There is a way to catch fake IDs besides ML and MRZ parsing, but this would require govt to allow banks to use their ID database.

Re: An unprecedented wave of online bank fraud is hitting Britain

#83

Post by mysterypie »

kasperni wrote: post #78
mysterypie wrote: post #68

What's always missing from stories like this is how the crooks get the money out. Considering that all Western governments have achieved total surveillance on our banking and made it impossible to have anonymous bank accounts, I'd like to see a detailed analysis about why they can't follow the money and see who gets it. Every scenario I can think of seems like it should be either traceable or actionable. Scenario 1:…

> What's always missing from stories like this is how the crooks get the money out. It is in the article: The fraudsters had told her to shift her "at risk" cash to an account on a cryptocurrency platform that they emptied - while isolating her from family by stressing secrecy and coaching her on how to respond to sceptical bank officials. "They knew the name of my financial adviser, they were utterly convincing as F…

Granted that in this case it was a cryptocurrency account, but I've seen dozens of articles like this over the years in which cryptocurrency was not mentioned or didn't even exist yet.

Re: An unprecedented wave of online bank fraud is hitting Britain

#84

Post by ryanlol »

KptMarchewa wrote: post #82
ryanlol wrote: post #70

Earlier quoted context omitted.

There are organizations creating thousands of bank accounts to cash out transactions like this for a percentage. They use fake IDs, there’s no way to stop them. Catching the people opening the accounts leads you to nowhere, they rarely even know their bosses.

There is a way to catch fake IDs besides ML and MRZ parsing, but this would require govt to allow banks to use their ID database.

Never gonna happen internationally. We barely managed to push through cryptographically signed passports after 9/11, and even those aren’t very well adopted (you will never face issues if your passport has a “faulty” chip)

Re: An unprecedented wave of online bank fraud is hitting Britain

#85

Post by KptMarchewa »

mysterypie wrote: post #68

What's always missing from stories like this is how the crooks get the money out. Considering that all Western governments have achieved total surveillance on our banking and made it impossible to have anonymous bank accounts, I'd like to see a detailed analysis about why they can't follow the money and see who gets it. Every scenario I can think of seems like it should be either traceable or actionable. Scenario 1:…

>Considering that all Western governments have achieved total surveillance on our banking

You're so far away from the truth. Basically, they have flashlight and they are in dark forest. You can theoretically find what you want, but it's fairly unlikely and very time consuming.

Re: An unprecedented wave of online bank fraud is hitting Britain

#86

Post by mdp2021 »

simonh wrote: post #62
Chris2048 wrote: post #34

Earlier quoted context omitted.

How are these databases used to police/punish the stereotypical Nigerian scammer?

I don't think that's a reasonable question, not all scammers are Nigerian. Some are based in the UK, others in Europe. Also the EU had data sharing agreements and collaboration outreach with police forces all over the world that we also lost access to. That's one of the complications with our data sharing with the EU; they have agreements to share data with non-EU countries on the basis that their data is only shared…

The poster forgot the bunny quotes ("so-to-say") in «stereotypical "Nigerian scammer"», but added the term 'stereotypical' to lead you there, and the content was clear: certainly the poster did not express or suggest that «scammers are Nigerian». "Scotch tape" is from Minnesota, and the Scots are probably not that disturbed from the underlying idea of "Careful with that glue, Eugene! "Be a Scot", don't waste it". The Nigerian princes happened, terminology spawned, Nigeria has presumably not yet demanded that those scams should be called with Greek letters. Because we are not fools and we know losing one's head is not decapitation, and losing one's mind is not misplacing it on the wrong table. You know what's Eugene even if no-one's called Eugene, and if you don't you can get it's a cultural reference.

Re: An unprecedented wave of online bank fraud is hitting Britain

#87

Post by avianlyric »

mysterypie wrote: post #68

What's always missing from stories like this is how the crooks get the money out. Considering that all Western governments have achieved total surveillance on our banking and made it impossible to have anonymous bank accounts, I'd like to see a detailed analysis about why they can't follow the money and see who gets it. Every scenario I can think of seems like it should be either traceable or actionable. Scenario 1:…

Go and look up the concept of money mules. Fraudsters don't need to setup bank accounts, they either buy bank accounts off people for £50, or convince people to move the money on their behalf by claiming they're doing an "accounting" job that involves large money movements, and the mule will get paid a percentage.

Most people don't realise what these accounts are used for, or just don't care because they're paid enough to look the other way. Then stolen funds are quickly moved across dozens of banks, with the money being split and re-combined with potentially legitimate money. Eventually the administrative overhead of tracking the money gets so great that no one bank can be bothered to do anything about, and the police aren't interested in actually investigating. The end result is that once the stolen money if a dozen or so bank accounts away from the victim, it's extremely unlikely that anyone is actually going to trace the money to that account, effectively making the money clean.

Re: An unprecedented wave of online bank fraud is hitting Britain

#88

Post by ChrisKnott »

mdp2021 wrote: post #45
_hilro wrote: post #39

Earlier quoted context omitted.

What an absolutely infantile comment.

Explain yourself. What is infantile in what you read.

"The solution's easy, I could solve it immediately if only people would listen to me" - Person With Absolutely Zero Experience In The Field.

Re: An unprecedented wave of online bank fraud is hitting Britain

#89

Post by dboreham »

mdp2021 wrote: post #65
robotmay wrote: post #26

Earlier quoted context omitted.

Yeah spam calls are a nuisance in this country. Oddly I've gotten far fewer recently. My technique for answering unknown numbers seems to get me removed from a lot of lists: Pick up the phone, but stay silent. If it's an auto-dialler, it usually disconnects automatically after 4 seconds, and seemingly gets you removed from the list (as either a dead line or a machine I guess). Sometimes this catches legitimate call c…

You do not use caller number review websites? In some cultures, most callers (private individuals) would not start speaking themselves before hearing a sign of presence from the other side: you filter out auto-diallers, but also contacts you did not have in your address book.

In the US the criminals forge the ANI so it looks like a legit number, e.g a local business. We just never answer the phone. Real people can leave voice-mail.

Re: An unprecedented wave of online bank fraud is hitting Britain

#90

Post by jliptzin »

mysterypie wrote: post #68

What's always missing from stories like this is how the crooks get the money out. Considering that all Western governments have achieved total surveillance on our banking and made it impossible to have anonymous bank accounts, I'd like to see a detailed analysis about why they can't follow the money and see who gets it. Every scenario I can think of seems like it should be either traceable or actionable. Scenario 1:…

Or what about Nigeria and India based scam artists ripping off thousands and thousands of elderly Americans on a daily basis? I think in India it’s turned into an entire industry by now. Is there really nothing American law enforcement can do about it or are they just asleep at the wheel?
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