Western Union Offers Internet Auction & Marketplace Safety Tips
05 10월 2011 - 10:00PM
Business Wire
In its ongoing effort to help protect consumers from becoming
victims of fraud, Western Union (NYSE: WU), a leader in global
payment services, is offering the latest information and tips on
common Internet scams.
As important as it is to our everyday lives, the Internet can be
used for all kinds of scams. Consumers should be particularly
careful when using money transfer services to make purchases
through Internet auction, marketplace and classified ad sites, such
as eBay and Craigslist. Two of the most common Internet scams to be
aware of are:
- Failure to deliver merchandise, which
targets buyers as victims.
- Overpayment using a fake check, which
targets sellers as victims.
“Internet scams succeed based on the fraudster’s ability to earn
their victim’s trust,” said Joseph Cachey III, acting general
counsel & chief compliance officer of Western Union. “Many
fraudsters even coach their victims on how to safeguard their funds
using a money transfer service, which supports the aura of trust
they try to create. Unfortunately, these extremely convincing
appeals, combined with a ‘once in a lifetime’ deal, create a very
powerful potion that some people find too difficult to resist.
People need to set their emotions aside, understand the facts of
the situation and not send the money.”
Failure to Deliver Merchandise
The Failure to Deliver Merchandise scam couldn’t be simpler. A
buyer (the victim) reaches an agreement to purchase an item from a
seller (the fraudster) via the Internet. The seller requires
payment through a money transfer service, such as Western Union,
and picks up the funds using a professionally produced fake ID. The
promised merchandise is never delivered.
Failure to Deliver Merchandise scams usually have one or more
tell-tale signs:
- The merchandise being sold may be
offered at a surprisingly low price.
- The seller will require that payment be
made only through a money transfer service; possibly even
suggesting ways of safeguarding the funds such as using a “test
question” in lieu of an ID.
- The seller will work hard to gain the
buyer’s trust by being friendly, identifying shared interests and
offering convincing explanations as to why a price is so low or for
requiring payment only through a money transfer service.
Overpayment Using a Fake Check
In these scams, a seller (the victim) reaches an agreement to
sell an item to a buyer (the fraudster). The seller receives what
appears to be a legitimate check drawn on a well-known bank for an
amount higher than the agreed upon price. The buyer concocts an
explanation for the overpayment and instructs the seller to deposit
the check into a bank account, withdraw the excess funds and send
those funds back using a money transfer service. The fraudster
picks up the funds using a fake ID and the victim is left
responsible for the bounced check.
Fake check fraudsters rely on check clearing lag times to commit
their crimes. U.S. Federal Reserve Board regulations (RegCC)
require that funds deposited into an account by check be made
available for withdrawal within a certain number of business days
after the deposit. Fake checks often take much longer to pass
through the clearing system and eventually return to the bank
unpaid. However, even though the victim has used the funds that
were made available by law, the victim is still responsible for any
withdrawals or payments made against the returned item.
Western Union provides a trusted and reliable way for people to
send money to family members and friends. Unlike a bank, Western
Union doesn’t open accounts for the people who use its service. A
money transfer can be paid out to the receiver within a short time
– even minutes – and after the money is paid, consumers cannot
obtain a refund from Western Union even if the transfer was the
result of fraud.
"Fraud is an industry-wide issue and preventing it is a shared
responsibility among law enforcement, consumers and the corporate
community," said Cachey. “We and our Agents work hard to educate
consumers and identify consumers who may be victims of fraud.
Consumers need to be cautious and exercise the same diligence. As
much as we and other money remitters do to help prevent fraud,
consumers are still their own first, last and best line of
defense.”
If you sent a Western Union Money Transfer® and believe you may
be a victim of fraud, call the Western Union Fraud Hotline number
at 1-800-448-1492. Information on fraud scams is available on the
Consumer Protection section of Western Union’s web site at:
http://www.westernunion.com/stopfraud. Additional
information on money transfer scams is available from the Federal
Trade Commission at: www.ftc.gov > Consumer Protection >
Money Matters > Scam Watch > Money Wiring Scams.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. The
Western Union, Vigo and Orlandi Valuta branded services are offered
through a combined network of 470,000 agent locations in 200
countries and territories. In 2010, The Western Union Company
completed 214 million consumer-to-consumer transactions worldwide,
moving $76 billion of principal between consumers, and 405 million
business payments. For more information, visit
www.westernunion.com.
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