[extropy-chat] internet car sale scam

[Harvey Newstrom]

Spike wrote,
> OK extropians, what is the scam here?  "Lucky" sent 11,500 by 
> money order, Johnson wired 3300 to a shipping company.
> Some of you cluey sorts, what is the scam here?

Ouch!  This is a variant of the old Nigerian scam.  See
<http://www.fraudaid.com/scamwarnings/419-030303-01-warticle.htm>.

Basically, checks from African banks take so long to clear that the U.S.
banks don't wait for them to clear.  They give you the money now assuming
the check will clear later.  A few weeks down the road, the bank will come
back and say the check wasn't real and they have reversed the deposit.
Meanwhile, the victim has been conned into sending some of the "received"
money back to the scammer or an associate.  It isn't until the bank reverses
the deposit that the victim realizes that they sent money out without
actually receiving any money in.

1. The victim never really got any money up front from the scammer.
2. The victim sends money out of their own pocket, not from a fraction of
the scammer's money.
3. The banks push all the liability on the account-holder and take no
responsibility for giving the victim cash for a bogus check.
4. The fine print on their account-holder agreement says that all check
deposits are subject to verification.
5. This has happened to many, many people over the years, and the victims
are always held liable for the losses.

-- 
Harvey Newstrom, CISSP, CISA, CISM, IAM, IBMCP, GSEC
Certified IS Security Pro, Certified IS Auditor, Certified InfoSec Manager,
NSA Certified Assessor, IBM Certified Consultant, SANS Certified GIAC
<HarveyNewstrom.com> <Newstaff.com>