Internet scams

Listened to the radio in the shed last night and they were talking about internet scams.

Anyway, this guy subscribed to a free online lottery site. He gave them his bank account details. What happened was this US site would automatically withdraw $12 from his account every month.

After a few months he realised that it is a scam. He tried to unsubscribe it, he contacted the site with no luck (Obviously). He went to the bank but they couldn't help (Obviously). The bank couldn’t help because they need authorization from both parties to stop the automatic transition. Sounds a rough to me.

So knowing it is a scam, knowing your customer is being robbed and yet the bank is not able to help. WHY?

We are able to put a washing machine on the moon but we are not able to protect each other. What is the DEAL guys?

The way I see it, is that it is your money in the bank account, and you should be able to decide if any payment should be stopped/rejected.
Les

Seem to recall a small claims case against one of the big 4, payments to a collection agency, bill paid but bank continued to process as they said that the agency had to cancel the withdrawals, not the holder of the account.
Small claims agreed with the holder of the account and was compensated by the bank.

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The bank couldn’t help because they need authorization from both parties to stop the automatic transition

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Sounds like bollocks to me. If my bank told me that, I'd close the account on the spot. Pretty hard to transfer $12 from a closed account.

But I bet the bastards would get you for something, or die trying.

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Originally Posted by silentC

I'd close the account on the spot.

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One caller, who seemed to know a bit about banking, said the other party can still withdraw $$ from the bank and the guy is still responsible for the money. :? :?

It is crazy and I don’t understand the logic behind it but that’s what he said.

Yeah but if the account doesn't exist any more how can any transfer take place? The system should fail. I'm sure I've had that situation in the past with direct debits where we have closed an account and forgotten to advise someone of the new account number. The bank rejects the transaction and the party processing the direct debit contacts you to let you know. Note this is different to a dishonour where the account exists but there is no money in it. The bank hits you up for a dishonour fee in that case.

I know it doesn’t make sense, but the guy said it with so much confidence.

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Originally Posted by Iain

But I bet the bastards would get you for something, or die trying.

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That sounds like a good result!

As the money is coming out of the customers account, they can cancel the transaction, if told otherwise, escalate the issue, go to the regional manager if necessary (They get off having to talk to customers, so you will get it resolved real quick)

If this doesnt work, All banks have a fraud department (no they are not the ones setting the fees). All the person has to do is contact their bank, advise that the transaction is fraudulent and they must put the transfer on hold and investigate.

If all of these fail, its time for the ombudsman, and that will have it sorted out quickly (Just the threat will usually bring the bank into line)

(Yes I work for one...)

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Originally Posted by Gra

(Yes I work for one...)

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So you know all the scams, NATurally? :U

Al :roll:

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Originally Posted by ozwinner

So you know all the scams, NATurally? :U

Al :roll:

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Of course, professional interest only :;:;:D

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Originally Posted by Wongo

I know it doesn’t make sense, but the guy said it with so much confidence.

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Everything I post in here I do with confidence, whether you choose to believe me is your choice :-:wink::D

Mr. Wong..... Pardon me if I appear sloooowwww bbbuuuutttt....
Why did we put a washing machine on the moon? :?

Haven't you seen all the dust up there? Too much work to hand-wash. And the grey water is great for the plants :D