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FTC Sues Walmart for Facilitating Money Transfer Fraud

ftc.gov

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Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#81

Post by ravel-bar-foo »

MBCook wrote: post #73
Aspos wrote: post #29

There is a reason why such kinds of fraud are practically nonexistent in some other countries but are prevalent in the US. Alas, nearly every problem in the US stems from politics. A problem which could have been solved easily will keep being a problem for another decade. Regulators could have solved the problem at its root and make the scams impossible, but no, they would rather shoot the messenger and force money t…

What regulations would have solved this problem? I think making transferring money much faster/easier instead of the current ACH system would help. But I’m assuming you’re thinking of other things.

Government could provide a national photo ID and develop standards for its secure use as part of regulating interstate commerce. As it stands the US has know your customer laws but allows businesses to initiate lines of credit to people without actual proof of identity.

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#82

Post by bombcar »

mistrial9 wrote: post #55
xsmasher wrote: post #52

Earlier quoted context omitted.

You'd be surprised how targeted these scams can be. A friend's mother got an email from her synagogue, with the rabbi's name and everything, asking her to buy some gift cards to surprise some other (named) officials.

except that the scammer was another attendee with a drug problem? before you yell at me, this actually happened to me, contacted via a trusted, long-term social club, and one of the wives (unknown to me) apparently had a full-on painkiller addiction and when it is time, they do anything.. even as far as using the phone list from the trusted social group to arrange for (thinly disguised) payment card purchases "now"

They usually look at your website and find some names - if you have buy-in you can create a fake president or CEO to catch many of these.

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#83

Post by bpodgursky »

Spooky23 wrote: post #57
thfuran wrote: post #50

Earlier quoted context omitted.

This concern > opposed to turning private companies into arms of federal law enforcement agencies. does not explain this policy > “If you suspect fraud, complete the transaction.” Sure it does. It's not Walmart's job to investigate fraud or any other crime. Their cashier's aren't trained in jurisprudence. And, frankly, a corporate policy of "deny service to customers who you suspect might be up to no good" is just a…

Funny, when Walmart’s money is involved, they have no problem having untrained staff harass, profile and intimidate customers suspected of not following store policy.

I feel like you are speaking without knowledge, because it usually take an extraordinary amount of blatant repeat theft for the loss protection team to act against an individual. Solo one-time shoplifters have close to a 100% chance of success without being apprehended.

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#84

Post by [deleted] »

justinjlynn wrote: post #40
treeman79 wrote: post #30

Earlier quoted context omitted.

She immediately called her boss. She didn’t get fired. Boss was initially sympathetic. But she lost her promotion. Then had hours cut. So she had to leave.

Honestly? This sounds like a constructive dismissal - designed to avoid claims of retaliation and victim blaming in a sympathetic case - to me.

[deleted]

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#86

Post by bluedino »

Aspos wrote: post #80
MBCook wrote: post #73

Earlier quoted context omitted.

What regulations would have solved this problem? I think making transferring money much faster/easier instead of the current ACH system would help. But I’m assuming you’re thinking of other things.

Many kinds of fraud mentioned in this post and the original article hinge on the fact that fraudsters can easily withdraw the money from the destination account. Just close this loophole and a bunch of fraud schemes will go obsolete. Require physical presence in the bank with machine readable biometrics passport for account opening (just like everywhere else) and boom, half the fraud schemes are gone. US forced all o…

What about gift card scams?

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#87

Post by Aspos »

bluedino wrote: post #86
Aspos wrote: post #80

Earlier quoted context omitted.

Many kinds of fraud mentioned in this post and the original article hinge on the fact that fraudsters can easily withdraw the money from the destination account. Just close this loophole and a bunch of fraud schemes will go obsolete. Require physical presence in the bank with machine readable biometrics passport for account opening (just like everywhere else) and boom, half the fraud schemes are gone. US forced all o…

What about gift card scams?

There should be no way to convert gift cards into large amounts of cash for starters.

US, perhaps, is the only developed country with gift card scams problem.

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#89

Post by treeman79 »

justinjlynn wrote: post #40
treeman79 wrote: post #30

Earlier quoted context omitted.

She immediately called her boss. She didn’t get fired. Boss was initially sympathetic. But she lost her promotion. Then had hours cut. So she had to leave.

Honestly? This sounds like a constructive dismissal - designed to avoid claims of retaliation and victim blaming in a sympathetic case - to me.

She was a victim. She also showed poor judgment as an assistant manager being fast tracked to manage the store.

Also from his standpoint, he doesn’t know for sure if she was being scammed. She could have taken money then gotten cold feet and made up story.

It’s a crap situation.

Money person at Grocery store also showed poor judgment. I had to ask for the store manager. Which is what article is referencing.

Re: FTC Sues Walmart for Facilitating Money Transfer Fraud

#90

Post by treeman79 »

xsmasher wrote: post #52
bombcar wrote: post #15

Earlier quoted context omitted.

Hi it’s me your irs tax audioter accounter cto manager I need you to buy many Amex gift cards and send me the codes so I can surprise the Ukrainians with them. Sincerely, totally honest guy.

You'd be surprised how targeted these scams can be. A friend's mother got an email from her synagogue, with the rabbi's name and everything, asking her to buy some gift cards to surprise some other (named) officials.

The grocery store manager was telling us how scammers have names of all higher ups at her and nearby stores and their schedules. So they know when to call, and what names to mention. All extremely professional sounding over the phone.
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