#271754 by TerranceBoyce
Sun Oct 18, 2015 1:27 pm
http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11927100/Barclays-made-me-sign-a-gag-order-before-it-would-return-2000-of-my-own-money.html
Of course this type of scam is well known to Scamwarners and the essential problem is that this and many other types of scam are based on criminals being able to open bank accounts in the UK to use in fraud. In fact it is so common that even foreign frauds have been based on bank accounts opened in the UK.
It isn't acceptable for this to happen and is why the UK has money laundering legislation. Even local councils will do something about a road traffic accident blackspots but there is no impetus to do anything as long as banks themselves aren't losing money. The problem is that more frequently these accounts are being used to launder much larger sums of money scammed from schools, local government authorities and hospitals as well as companies. It will be a major scandal if nothing is done until a major company goes 'belly up' because of this. Of course these accounts have even been used to perpetrate frauds and launder money stolen from banks, which is reaching a state of farce.
It's NOT an insurmountable problem.
Clearly they have never seen this forum and the daily postings of fraudulent escrow websites, or perhaps they aren't even aware of their existence.
Fundamentally financial organisations do not want to publicise examples evidencing the risks and flaws of using payment systems, particularly as they are trying to introduce ever more vulnerable systems.
Example
http://www.walesonline.co.uk/news/uk-news/fraud-risk-after-halifax-bank-10264698
18 Oct 2015
'Barclays made me sign a gag order before it would return £2,000 of my own money'
Financial firms tell fraud victims that they will get their money back – only if they keep quiet, in a disturbing new trend uncovered by Telegraph Money
Online bank scams continue to defraud Britons of £325m a year. While the methods may become more sophisticated, the end-result is largely the same: victims will be convinced to transfer their money into a fraudster’s bank account.
Because the fraud is considered to be an “authorised payment”, industry regulations state that the receiving bank has no responsibility to return this money. This is because the victim has instructed their bank to send funds to the fraudsters’ bank account, which will be quickly withdrawn.
John Kerr, a photographer from Harrogate, sent £6,500 to a fraudster’s Barclays account when he was tricked by a new “Apple Pay” scam last month.
He thought he was buying a car using the online payment service but was in fact directed to a copycat website.
Of course this type of scam is well known to Scamwarners and the essential problem is that this and many other types of scam are based on criminals being able to open bank accounts in the UK to use in fraud. In fact it is so common that even foreign frauds have been based on bank accounts opened in the UK.
It isn't acceptable for this to happen and is why the UK has money laundering legislation. Even local councils will do something about a road traffic accident blackspots but there is no impetus to do anything as long as banks themselves aren't losing money. The problem is that more frequently these accounts are being used to launder much larger sums of money scammed from schools, local government authorities and hospitals as well as companies. It will be a major scandal if nothing is done until a major company goes 'belly up' because of this. Of course these accounts have even been used to perpetrate frauds and launder money stolen from banks, which is reaching a state of farce.
It's NOT an insurmountable problem.
Fake payment and bank websites are on the decline - Action Fraud
Clearly they have never seen this forum and the daily postings of fraudulent escrow websites, or perhaps they aren't even aware of their existence.
Fundamentally financial organisations do not want to publicise examples evidencing the risks and flaws of using payment systems, particularly as they are trying to introduce ever more vulnerable systems.
Example
http://www.walesonline.co.uk/news/uk-news/fraud-risk-after-halifax-bank-10264698
15 OCT 2015
'Fraud risk' after Halifax, Bank of Scotland flaw spotted
An online security flaw could have left many Halifax and Bank of Scotland customers vulnerable to fraud, it has been claimed.
Anyone exploiting the loophole would have been able to view a customer's bank, savings, credit card or loan details online.
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
