Money transfer position

[donaldduckmoore]

Wise people, have you heard of a position that helps an investment company to cash checks for clients, and transfer the money back to the company via money order. You gain base salary and commission of the check cashed. Any legal responsibilities for that kind of activity?

[JWM in SD]

You mean like….money laundering??

[betting on fall]

So this is a sucessful investment company, but they can’t even cash their own checks?

its either money laundering, or a flat out scam- a stop payment is issued on the check as soon as your money order comes through.

[betting on fall]

So this is a sucessful investment company, but they can’t even cash their own checks?

its either money laundering, or a flat out scam- a stop payment is issued on the check as soon as your money order comes through.

[JWM in SD]

You mean like….money laundering??

[surveyor]

it sounds like one of those nigerian scams where they say they need to withdraw money but need funds of thousands of dollars so that they can pay you a million dollars.

my advice: stay away…

[surveyor]

it sounds like one of those nigerian scams where they say they need to withdraw money but need funds of thousands of dollars so that they can pay you a million dollars.

my advice: stay away…

[blue_sky]

This is an excellent way to lose all your money AND (if you’re unlucky) go to jail at the same time. 2 for 1 deal, here’s how it works:

1. You cash a check (bank has to, by law, give you access to the funds within 5 business days, regardless of how long it takes them to actually get the money)
2. You remove the cash from your account (that’s what a money order is, the cash is GONE from your account and is now in a custodial account).
3. The check bounces. The money is removed from your account and you are responsible as a willing conspirator in the fraud.

http://en.wikipedia.org/wiki/Advance_fee_fraud#Fake_checks_and_check_cashing_scams

See also:

http://en.wikipedia.org/wiki/Check_fraud

Here’s a typical sob story, with luck you could get your 15 minutes of fame too, apply now!!

http://www.washingtonpost.com/wp-dyn/content/article/2006/05/31/AR2006053102004.html

Your exact “opportunity” is on page 2:

In February, about a year after Gaston had posted her résumé on a job-search Web site, she received an e-mail about a part-time opportunity: to work as a courier for money for an international charity that builds homes for people in disaster areas. Her assignment was to deposit local donations into her own bank account, wait for the checks to clear and then wire the money to another address. She was told she would be paid 7 percent of every donation check, with a guarantee of $500 the first week on the job.

[donaldduckmoore]

Hey guys, and especially Bluesky, very informative materials. Thanks.

[blue_sky]

You’re welcome, and I’m glad you responded. I was more than a little worried you had already jumped on this. You wouldn’t be the first person to think they had found a good deal.

[donaldduckmoore]

I have been suspecting that deal for a while, and they have everything that make you think the company is real and believable. They have their website, phone number and everything. They first sent an email to me because I had resume on MOnster.com. That is exactly what the article you enclosed mentioned.

But why can’t these scamers be caught? They request money be transferred to them via western union money order. Western Union should be able to track who cashed the money order and the location of the bank account right? If they do it online, then Western Union should have all the online information to find him even faster. How should I forward this issue to the concerned authority to follow up? Thanks.

[blue_sky]

Unfortunately there really isn’t anyone to report it to. Here’s the relevant info from the secret service:

Due to a number of aggravating circumstances, such as the use of false names, addresses, stolen/cloned/prepaid cell phones and remote email addresses, verifying the location of and subsequent prosecution of these persons or groups is difficult. The act of sending an email soliciting strangers’ assistance in a financial transaction is not, in itself, a crime. The installation of a credible spam filter and contacting your Internet Service Provider may help deter these unsolicited emails. However, there is currently no available program to completely block these types of messages.

http://www.secretservice.gov/faq.shtml

See the section ‘How do I report a case of advance fee fraud (also known as “4-1-9 fraud”)?’

[blue_sky]

Unfortunately there really isn’t anyone to report it to. Here’s the relevant info from the secret service:

Due to a number of aggravating circumstances, such as the use of false names, addresses, stolen/cloned/prepaid cell phones and remote email addresses, verifying the location of and subsequent prosecution of these persons or groups is difficult. The act of sending an email soliciting strangers’ assistance in a financial transaction is not, in itself, a crime. The installation of a credible spam filter and contacting your Internet Service Provider may help deter these unsolicited emails. However, there is currently no available program to completely block these types of messages.

http://www.secretservice.gov/faq.shtml

See the section ‘How do I report a case of advance fee fraud (also known as “4-1-9 fraud”)?’

[donaldduckmoore]

I have been suspecting that deal for a while, and they have everything that make you think the company is real and believable. They have their website, phone number and everything. They first sent an email to me because I had resume on MOnster.com. That is exactly what the article you enclosed mentioned.

But why can’t these scamers be caught? They request money be transferred to them via western union money order. Western Union should be able to track who cashed the money order and the location of the bank account right? If they do it online, then Western Union should have all the online information to find him even faster. How should I forward this issue to the concerned authority to follow up? Thanks.

[blue_sky]

You’re welcome, and I’m glad you responded. I was more than a little worried you had already jumped on this. You wouldn’t be the first person to think they had found a good deal.

[donaldduckmoore]

Hey guys, and especially Bluesky, very informative materials. Thanks.

[blue_sky]

This is an excellent way to lose all your money AND (if you’re unlucky) go to jail at the same time. 2 for 1 deal, here’s how it works:

1. You cash a check (bank has to, by law, give you access to the funds within 5 business days, regardless of how long it takes them to actually get the money)
2. You remove the cash from your account (that’s what a money order is, the cash is GONE from your account and is now in a custodial account).
3. The check bounces. The money is removed from your account and you are responsible as a willing conspirator in the fraud.

http://en.wikipedia.org/wiki/Advance_fee_fraud#Fake_checks_and_check_cashing_scams

See also:

http://en.wikipedia.org/wiki/Check_fraud

Here’s a typical sob story, with luck you could get your 15 minutes of fame too, apply now!!

http://www.washingtonpost.com/wp-dyn/content/article/2006/05/31/AR2006053102004.html

Your exact “opportunity” is on page 2:

In February, about a year after Gaston had posted her résumé on a job-search Web site, she received an e-mail about a part-time opportunity: to work as a courier for money for an international charity that builds homes for people in disaster areas. Her assignment was to deposit local donations into her own bank account, wait for the checks to clear and then wire the money to another address. She was told she would be paid 7 percent of every donation check, with a guarantee of $500 the first week on the job.

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