> In October, the U.K. began requiring banks to reimburse scam victims up to £85,000, or about $116,000, per claim when they make a fraudulent payment on behalf of their customers, even if the customers authorized the transfer. How does the bank verify the scammer and the "victim" aren't colluding? I.e. Mal opens a bank account with $100k, it gets cleaned out when he's "scammed" by Eve, then Mal is reimbursed $100k.…
Foreign Scammers Use U.S. Banks to Fleece Americans
11–20 of 142 posts
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#12I've said it before here, I'll say it again: it is high time that our governments follow the money and the scammers. Sanction the source countries of these scams to hell and beyond until they clean up their act and pray in front of us on their knees for forgiveness. And yes, I'd like particularly Narendra Modi to kneel - it's hard to wish anything else after watching more than two Scammer Payback videos. Obviously In…
Every dollar in scam damages verified by the FBI is one fewer work visa for anyone from that country. India is now in a hole of 1 billion (or 10,000 lakhs) work visas, and the latter are more valuable than scams.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#13If you pick the right credit union, your experience will truly be so much better.
Even one as big as NFCU. I've never looked back since switching.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#14I've said it before here, I'll say it again: it is high time that our governments follow the money and the scammers. Sanction the source countries of these scams to hell and beyond until they clean up their act and pray in front of us on their knees for forgiveness. And yes, I'd like particularly Narendra Modi to kneel - it's hard to wish anything else after watching more than two Scammer Payback videos. Obviously In…
https://www.worldometers.info/gdp/gdp-by-country/
The US GDP is more than 27 trillion. If 158 billion is being lost. That's about .6% of the GDP. So, my question is, why does this have to stop? If it is stopped the benefits to the global population seems trivial. I'm sure at the individual level it is devastating. Good luck getting the national government to care about such a small percent.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#15I thought that US banks had to know their customers
US banks are too busy delaying their customers’ ach transfers for days so they can profit from the float to actually solve customer problems and take responsibility for the many societal benefits they enjoy.
Don't know if this is true, but I read this a few years ago, top answer: https://www.reddit.com/r/explainlikeimfive/comments/se51wb/e...
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#16> In October, the U.K. began requiring banks to reimburse scam victims up to £85,000, or about $116,000, per claim when they make a fraudulent payment on behalf of their customers, even if the customers authorized the transfer. How does the bank verify the scammer and the "victim" aren't colluding? I.e. Mal opens a bank account with $100k, it gets cleaned out when he's "scammed" by Eve, then Mal is reimbursed $100k.…
Fwiw the word “colluding” already describes why victim was emphasized.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#17So pig butchering based out of SEA is now the dominant scam form? It’s crazy how quickly this came to dominate the landscape.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#18> In October, the U.K. began requiring banks to reimburse scam victims up to £85,000, or about $116,000, per claim when they make a fraudulent payment on behalf of their customers, even if the customers authorized the transfer. How does the bank verify the scammer and the "victim" aren't colluding? I.e. Mal opens a bank account with $100k, it gets cleaned out when he's "scammed" by Eve, then Mal is reimbursed $100k.…
Yeah, but the scammer could also just walk into the bank and pass the teller a note telling them to hand over all the money in the drawer. They'd do it! But it would be theft and the scammer would be arrested, just like if they did what you're suggesting.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#19I've said it before here, I'll say it again: it is high time that our governments follow the money and the scammers. Sanction the source countries of these scams to hell and beyond until they clean up their act and pray in front of us on their knees for forgiveness. And yes, I'd like particularly Narendra Modi to kneel - it's hard to wish anything else after watching more than two Scammer Payback videos. Obviously In…
https://www.worldometers.info/gdp/gdp-by-country/ The US GDP is more than 27 trillion. If 158 billion is being lost. That's about .6% of the GDP. So, my question is, why does this have to stop? If it is stopped the benefits to the global population seems trivial. I'm sure at the individual level it is devastating. Good luck getting the national government to care about such a small percent.
This is not a good financial analysis. Nearly any mature company would absolutely pursue 0.6% in cost reduction. That is a huge, juicy target.
Re: Foreign Scammers Use U.S. Banks to Fleece Americans
#20> In October, the U.K. began requiring banks to reimburse scam victims up to £85,000, or about $116,000, per claim when they make a fraudulent payment on behalf of their customers, even if the customers authorized the transfer. How does the bank verify the scammer and the "victim" aren't colluding? I.e. Mal opens a bank account with $100k, it gets cleaned out when he's "scammed" by Eve, then Mal is reimbursed $100k.…
Yeah, but the scammer could also just walk into the bank and pass the teller a note telling them to hand over all the money in the drawer. They'd do it! But it would be theft and the scammer would be arrested, just like if they did what you're suggesting.
It's cute if you really think that
These days you can open bank accounts completely online with fraudulent info
You can even open bank accounts from countries on the other side of the world. How will they arrest you, exactly?