#249999 by TerranceBoyce
Fri May 08, 2015 8:10 am
http://uk.businessinsider.com/prominent-chinese-banks-are-at-the-center-of-the-18-trillion-counterfeit-money-market-2015-5?
The first mistake is to believe that a website alone is in any way confirmation that the person/company is reputable. Buying branded goods at bargain prices from Chinese websites is one of the quickest ways to lose your money and potentially have your card details compromised.
If you pay by credit card you may have a slim chance of getting your money back, but the potential risk of having your card details compromised outweighs even the risk of losing your money.
If Western card companies cannot retrieve money from China, your chances of getting your money back are much reduced.
MAY 8, 2015
Kim Sbarcea knew exactly what she wanted. She typed "Tiffany Elsa Peretti mesh earrings" into Google and chanced upon a pair of the $450 earrings for — deal of deals! — $32.
The website, called tiffany-outletsale.com, looked legit. She hit the buy button.
The first mistake is to believe that a website alone is in any way confirmation that the person/company is reputable. Buying branded goods at bargain prices from Chinese websites is one of the quickest ways to lose your money and potentially have your card details compromised.
In that instant, Sbarcea's money was sucked from her house in Christchurch, New Zealand, into the global counterfeiting market, where Chinese banks have emerged as key conduits in an illegal industry estimated to be worth $1.8 trillion this year.
At least three prominent Chinese banks serve as safe havens for counterfeiters, who use them to process credit card payments or move their money around the globe, The Associated Press has found
If you pay by credit card you may have a slim chance of getting your money back, but the potential risk of having your card details compromised outweighs even the risk of losing your money.
The [Chinese] banks do not dispute that the accused counterfeiters held accounts, but refuse to comply with U.S. court orders to freeze funds or disclose information about accounts in China, saying that would violate bank secrecy laws.
If Western card companies cannot retrieve money from China, your chances of getting your money back are much reduced.
CAR ADVERTS - If a car seller mentions escrow - he's scamming you Never ever for any reason pay anything until you have seen and inspected the vehicle
