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Thread: Fake proof of payment

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    Gold Member IMHO's Avatar
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    Fake proof of payment

    Thought I will just inform you guys. Be wary of EFT proof of payments. I got one last week that is virtually the same as the real thing. The give away was that my bank statement shows a cheque deposit, whereas the proof is for a once off eft transfer. That and a poor story of why the money was wrongfully paid into my account and why I must pay the money back immediately.

    The marvel is the copy of his receipt. I could not tell it is fake and on presenting it to the bank, they pointed out a few things like font etc. But to me it was the real thing. So, a faxed copy of a payment to your bank account can no longer serve as definite proof.
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    Platinum Member Mike C's Avatar
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    Yep - looks like a variation of quite an old scam. Starts with a phone call with a distraught person telling you that they have deposited a cheque into your account by accident. Proof shown on (what looks like) a photocopy perfectly legitimate deposit slip.

    The only sensible answer is "When it shows up on my bank statement I will refund it with pleasure. Please may I have your name and address and banking details."
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    Diamond Member adrianh's Avatar
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    The ONLY proof of payment is you seeing the payment in your own bank account with your own eyes.
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    Gold Member IMHO's Avatar
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    Quote Originally Posted by adrianh View Post
    The ONLY proof of payment is you seeing the payment in your own bank account with your own eyes.
    Nope, not enough. Have to wait about two weeks before you can be sure it is not going to reverse. Usually it reverse after two days, like in this instance, but the bank told me 2 weeks. It have to show as 'available' at least and then still you are at risk. Yes, it is an old scam, I just wanted to highlight how brilliantly the fake the POP these days. Most businesses accept the faxed POP, as if not the same bank, it does not show immediately in your account. That is why big business have a bank account at every bank, so you can use the bank where you bank and it shows immediately. The bank tells me that even a genuine EFT can be reversed by unscrupulous operators.

    The people that have to be on the lookout is traders that have to release goods against proof of payment.
    ~Expenses will eat you alive! - My first Boss~

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    Diamond Member adrianh's Avatar
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    How can it reverse out of your account without your consent?
    How easily someone is offended is directly proportional to how stupid they are.
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    Gold Member IMHO's Avatar
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    Quote Originally Posted by adrianh View Post
    How can it reverse out of your account without your consent?
    Because it was never there in the first place! The easy one they do is deposit a stolen cheque in your account. At a branch of your bank. The deposit shows immediately on your statement, but it is not available. Then the cheque goes through the clearing procedure, bounce and the amount is reversed on your account. You even get charged banking fees for the cheque that bounced!

    In the case of an EFT, I do not know how it work, as you are supposed to have funds to do an EFT. However, there is ways and means to do it, so the bank tells me.

    In my case, the bank statement clearly showed a cheque deposit, so I knew what is coming. In my industry it happens all the time. An hour later the guy faxed me an EFT receipt, with a sop story how the wrong amount was paid into my account and that I must please repay the money as he needs it urgently!

    They have an account set up for this. An EFT from an account with funds clear immediately. The draw the money and disappear. You will never see your money again. The banks is aware of this and because it is such an old scheme, they do not reimburse you for your loss and stupidity.

    I do not even report it any more. I tell the bank about it so they can reverse their service charge, which they do.

    Again, I thought everyone is aware of this scheme and just brought it up because of the quality of the fake EFT receipt. Gone is the days your staff just flash you a copy of an EFT done to your account and you release the goods.
    ~Expenses will eat you alive! - My first Boss~

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    Diamond Member adrianh's Avatar
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    I've got one of those difficult clients. The first time he paid me by cheque and it took 2 weeks to clear. Today he asked me to post him the goods and he'll pay me once he has the goods in his hands. He's dreaming...I'll only post the goods once I am able to buy pizza with his payment.

    It's amazing how some people always try their luck....and yes, I've been caught a couple of times too....
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    Diamond Member Vanash Naick's Avatar
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    Quote Originally Posted by IMHO View Post
    Thought I will just inform you guys. Be wary of EFT proof of payments. I got one last week that is virtually the same as the real thing. The give away was that my bank statement shows a cheque deposit, whereas the proof is for a once off eft transfer. That and a poor story of why the money was wrongfully paid into my account and why I must pay the money back immediately.

    The marvel is the copy of his receipt. I could not tell it is fake and on presenting it to the bank, they pointed out a few things like font etc. But to me it was the real thing. So, a faxed copy of a payment to your bank account can no longer serve as definite proof.
    This is very disturbing! It begs the question: Why don't the banks trace these guys based on the fake proof of payment?
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    Gold Member Chrisjan B's Avatar
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    Very difficult if impossible...
    There is no incentive (monetary gain ) for the bank....

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    Gold Member IMHO's Avatar
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    Quote Originally Posted by Vanash Naick View Post
    This is very disturbing! It begs the question: Why don't the banks trace these guys based on the fake proof of payment?
    Probably too much effort for a too small chance of success?
    ~Expenses will eat you alive! - My first Boss~

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