[335twins]

Hi,

Is there someone on here that knows how wire transfer works, more importantly what is needed from both parties to transfer and actually receive the money?

1- Can anyone just walk into a bank and open an account using fake name? someone's company name?


Thanks

[Maestro]

Are you talking about wire transfers between banks or using something like western union, in the case of wiring money to a western union location never do this unless you actually know the person. Anyone can set up a western union account and have money wired into it.

Now if you talking about a real bank, yes there are all sorts of checks and balances in place for bank to bank wire transfers, but again unless you know the person or business do not transfer money this way.

[335twins]

it is bank to bank (1 bank to another -different banks- wire transer not western union), i just want to know if someone opens a bank account if there is good information taken from that person, so if its fraud, the bank is responsible to take action, after all they have policies and procedures in place.

it is not about knowing the person, if someone opens an account and does fraud, there has to be policies and procedures in place that bank does, i cant go to the bank and just open an account using fake name and company name that doesn't belong to me, is that right? All i'm asking is if someone opens an account like that if there is legit info about that person that is taken by the bank so if fraud takes place, the bank can trace it to the account owner and prosecute him/her?

Originally Posted by Maestro

Are you talking about wire transfers between banks or using something like western union, in the case of wiring money to a western union location never do this unless you actually know the person. Anyone can set up a western union account and have money wired into it.

Now if you talking about a real bank, yes there are all sorts of checks and balances in place for bank to bank wire transfers, but again unless you know the person or business do not transfer money this way.

[upstatedoc]

Yes I just recently recieved a wire transfer from a Nigerian prince after I wired him a small transaction fee. Can't wait to spend my 1 million naira.

[335twins]

funny dude, it was u then, i'm coming for u just like the movie "Taken" LOL

Originally Posted by upstatedoc

Yes I just recently recieved a wire transfer from a Nigerian prince after I wired him a small transaction fee. Can't wait to spend my 1 million naira.

[E90SLAM]

Originally Posted by upstatedoc

Yes I just recently recieved a wire transfer from a Nigerian prince after I wired him a small transaction fee. Can't wait to spend my 1 million naira.

Usually that comes along with a brand new BMW as well!!!

[Maestro]

It depends where the bank is located, your bank will not take any responsibility for any wire transfer once it is sent. Within the USA you have recourse and can file a claim and legal actions. However, once the money leaves the USA all bets are off. In the USA everyone who set up a bank account is required to provide certain amounts of documentations, but they does not mean someone will not screw you.

As I said only use wire transfer with someone you know such as family member if you trust them too.

[firstkill]

anyone can go to a bank and open an account

personal account will needs SSN
business account will need a tax ID number

both of those can be "faked"
I don't know what banks do to verify the SSN or tax id number (I doubt they do much)

when you wire money, you will need to know
1. account number
2. bank address
3. Name on the account
4. routing number

some banks let you wire without all this information

once you "wire" the money will get deducted from your account. It can be traced between your bank and the accepting bank. If the account number and names do not match up. the money wont be deposited. but you will have to ask the bank to get it back.

if it gets accepted into the other account, your money is gone.

fk

[335twins]

I cant fuk**** believe that someone can just go to a bank and open an account without proper information, meaning fake. If they f up, meaning there is some kind of fraud, they should be able to find the person that open the account, and if fake info was provided and the bank didn't do their job to check properly, then they should be responsible. You don't send cash in an envelope, its the banks job to make sure they have correct information so they can trace it in case something goes wrong. I guess they didn't learn anything from the recent recession...

And this was a bank in England, the person used a legit company name so i'm guessing the bank didn't check for tax id or if the company belongs to that person..Anyone here from England that can help out?

Thanks

Originally Posted by firstkill

anyone can go to a bank and open an account

personal account will needs SSN
business account will need a tax ID number

both of those can be "faked"
I don't know what banks do to verify the SSN or tax id number (I doubt they do much)

when you wire money, you will need to know
1. account number
2. bank address
3. Name on the account
4. routing number

some banks let you wire without all this information

once you "wire" the money will get deducted from your account. It can be traced between your bank and the accepting bank. If the account number and names do not match up. the money wont be deposited. but you will have to ask the bank to get it back.

if it gets accepted into the other account, your money is gone.

fk

[infinitekidM2C]

A nigerian prince will return ur money with interestz soon my friend...no worries

[335twins]

or i can meet the prince myself, i think i need to change my career to " collections" or "waste management"...

Originally Posted by infinitekid2002

A nigerian prince will return ur money with interestz soon my friend...no worries

[Maestro]

Okay if you talking about the UK, yes it happens all the time, the scammer who are in Nigeria, have friends in the UK who set up bank accounts to receive funds and once they milked as many people as possible they close the account.

To correct what was said, in the US the bank do check out who you are they are required to do so under federal racketeering laws as well and home land security laws. Especially if you deposit a large sum of money, they need to know where that money came from. However, illegal in the country use other people's SS numbers all the time to get a job, what makes you think criminal could not do the same thing with a stolen SS with a bank.

Also, it not the banks responsibilities to makes sure the person you are sending money to is legit, that is your job, there is no way to know if you are sending money to someone you actually know or con artist.

At this point write it off, you can not recover anything you wire transferred, it is gone and the authorities in the UK will not help.

Now these guys may help you figure out how to mess with scammer like they do. These guys know how to cost the scammers money that is for sure.

http://www.419eater.com/

[amanda hor$t]

for western union the sender just needs to provide the name of the receiver, and then privately gives the receiver the transfer code. the receiver just needs to go to western union with an id and the transfer code. did it a few times when i used to sell on ebay, it's easy.

as for banks, they mainly want the business. and if shit goes down they'll just blame it on the account holder. just like how a car dealership doesn't care where your cash came from when you're buying a car.

as far as untraceable money's concerned... bitcoin has potential

[335twins]

is there any authority to contact besides dumb banks that cant do shit? or i need to take a trip to England? if someones opens an account at a bank, there are cameras and shit, they gotta have something on tape, but if they willing to go after them, that's another story.. i guess the old way of handing cash hand to hand was more secure than fuk*** dealing with banks...

[amanda hor$t]

Originally Posted by 335twins

is there any authority to contact besides dumb banks that cant do shit? or i need to take a trip to England? if someones opens an account at a bank, there are cameras and shit, they gotta have something on tape, but if they willing to go after them, that's another story.. i guess the old way of handing cash hand to hand was more secure than fuk*** dealing with banks...

yup, cash is king. ups someone a few gold coins, break it up into several packages if you're worried about something being lost/scammed. i have 1 bank account to trade stocks, other than that i'm off the grid.

[grimlock]

So did you get scammed or what?

[Maestro]

Originally Posted by 335twins

is there any authority to contact besides dumb banks that cant do shit? or i need to take a trip to England? if someones opens an account at a bank, there are cameras and shit, they gotta have something on tape, but if they willing to go after them, that's another story.. i guess the old way of handing cash hand to hand was more secure than fuk*** dealing with banks...

No, there is no authority who is going to take up you issue. As I said the banks are not responsible for what you do with your money. How are they to know your not the one scamming people, you could have got what you bought and now you trying to screw the sell by trying to pull back the money.

Face you got screwed and no one is going to help, It is not call buyer beware for a reason.

[335twins]

I disagree with you. this is how this went down:

- I have a company that i own, i buy stuff from a person in a different country and i wire him the money. Got couple of emails and phone call from him that he is looking for payment. He sends me the wire account info that he created in UK, i wire the money there. He calls me a day later says he never got the money... long story short, his email got hacked and u know where it goes from there. I wired him money many times before, so its legit, i am not trying to screw anyone here, obviously we both got screwed, bank is investigating but knowing its in UK, who knows how those morons check people there when they open bank accounts..here in US they have to check you properly when you open a bank account, its FDIC rules...

Originally Posted by Maestro

No, there is no authority who is going to take up you issue. As I said the banks are not responsible for what you do with your money. How are they to know your not the one scamming people, you could have got what you bought and now you trying to screw the sell by trying to pull back the money.

Face you got screwed and no one is going to help, It is not call buyer beware for a reason.

[Maestro]

Look, I personally done wire transfers a number of times as well as I do them all the time for work, it goes from one bank account to another. I am not sure how someone's email account getting hack has anything to do with it. When I have done a wire transfer either personally or for work the receiving party provide a ABA or Routing number along with the necessary account numbers and account holder information. If you wired someone money and according to you, you have done it a number of times it should be going to the same account information, ie the same bank and bank account.

Even if someone got the account information from hacking an email account there is no way to intercept the wired money and divert it. The only way someone could have gotten the money was to wire it back out of the account you sent it to or they went to that bank and pulled out the money directly from the account which would all leave a record of the activity. Also you can not draw money out of someone account by just having the account information unless the account hold authorized the withdrawal or the party making the withdrawal has the appropriate credential to do so. Such as your utilities being authorized by you to make a withdrawal to pay your bill from your bank account. (thus the reason never to do auto payment from your bank account, use a credit card, lots more protection)

Now, go and educate yourself on the confidence scam, it is where someone makes small transaction with you to build your confidence in them so they can stick it to you later for a bigger take or if they are really good they hit you a number of times before you get wise of their actions

[Dkhan23]

I wired money from Canada to US they checked all my federal tax ID and everything, idunoo if they even care in the UK

[335twins]

this is what happened:l

The person that i wired the money to before emailed me saying that he open a new account in UK and to wire the money there. His company name was listed as the party receiving the money. But according to him, he never sent me any emails..so someone hacked into his email and sent that email. I wired the money there, so basically there is some kind of fraud and what i dont understand is how someone can open a bank account without proper information, i hope the bank does check who opens account at their bank so if something goes wrong they can trace it to the owner who opened the account. I know the person who i transfer money too, i met him multiple times, so he is not the scammer...I spoke to him over the phone too, but there is a language barrier and he thought i was wiring money to his older account...live and learn i guess but i still believe banks should have proper policies when it comes to opening a bank account...

Originally Posted by Maestro

Look, I personally done wire transfers a number of times as well as I do them all the time for work, it goes from one bank account to another. I am not sure how someone's email account getting hack has anything to do with it. When I have done a wire transfer either personally or for work the receiving party provide a ABA or Routing number along with the necessary account numbers and account holder information. If you wired someone money and according to you, you have done it a number of times it should be going to the same account information, ie the same bank and bank account.

Even if someone got the account information from hacking an email account there is no way to intercept the wired money and divert it. The only way someone could have gotten the money was to wire it back out of the account you sent it to or they went to that bank and pulled out the money directly from the account which would all leave a record of the activity. Also you can not draw money out of someone account by just having the account information unless the account hold authorized the withdrawal or the party making the withdrawal has the appropriate credential to do so. Such as your utilities being authorized by you to make a withdrawal to pay your bill from your bank account. (thus the reason never to do auto payment from your bank account, use a credit card, lots more protection)

Now, go and educate yourself on the confidence scam, it is where someone makes small transaction with you to build your confidence in them so they can stick it to you later for a bigger take or if they are really good they hit you a number of times before you get wise of their actions

[amanda hor$t]

^ so you sent money to nigeria and they ignored everything except the routing/wire number