Add to Favorites  |  Make ChineseMOL as your homepage Member Credibility Check  Sign In  Join Now  changshang.com
Chinese manufacturers online' logo
  Search  
   Home >> News >> Safe Trading Tips
News Detail
  • fraud case studies 8 - looking for company represe
  • Source:cmo  Date:August-08-2007  Editor:cmo   
  • case description:
     


    mr. thomas posted his resume on a website. later, he received a job offer from a european trading company looking for us personnel to intermediate marketing transactions overseas. this company claimed to be a broker company through alibaba.com. they also claimed that the job was to help their company collect payment in the us and that they would pay 10% commission to mr. thomas. the company sent him a business cheque, which mr. thomas deposited into his account.  the european company then instructed him to purchase western union money orders, and send them to the uk and other locations in europe. some time later, mr. thomas's bank contacted him to inform him that the business cheque he had deposited was a fake. unfortunately, mr. thomas had already paid the western union money order expenses and lost his money.
     


    analysis of this case:
     


    1)       this is an example of a cheque fraud scam that works on a massive scale. the fraudster will look for people to act as their so-called “representatives”. the “representatives” will then be asked to help them collect payments in various countries, and a high rate of commission will be promised as a reward.
     


    2)       the “representatives” will receive fake cheques to be deposited in their personal or business accounts. often, these are written on blank cheque forms stolen from legitimate businesses. once the cheque is deposited, the “representative” wires the money to a bank account in another country. however, by the time the fake cheque bounces, the “representative’s” money is already out of the country and they are left to pick up the losses.
     



     
Previous:   things to remember when choosing business partners   Next:   how to buy safely - before trading
Member Section
China News
About CMO - Leadership - Investor Relations - Contact us
Copyright Notice ® Copyright 2004-2007 www.ChineseMOL.com All rights reserved.
Tel: (001)973-299-9888  Fax: (001)973-299-9788  E-mail: info@chinesemol.com