Bank fraud or Syndicate at work?

[LAcars]

Bank fraud or Syndicate at work?

A close friend of mine was victimized and I asked him to narrate the incident:

Hi guys, was wondering if I can seek some advise regarding an incident that took place last month that involved a customer and our bank.

I can’t really give full details of this including the names involved as we are still awaiting an official response from our bank.

Last month, on a Thursday afternoon, a customer had called our office and inquired regarding some items we sell. The amount was substantial. After negotiating prices he asked what mode of payments we accept, we told him it was either cash or credit card. Then he asked us which bank do we transact with, and I gave the name out. Calls me Friday afternoon stating he has a manager’s check made payable to our company and gave us the branch where the check was drawn out from.

We called that branch and a lady who claimed to be the assistant manager verified that there is a valid manager’s check made payable our company for the same amount.

At around 2 pm that same day, we called our bank to verify this information with the issuer branch before we accept the manager’s check as payment for items.

Our banker called us around 2:30 pm confirming that the check is valid made payable to our company name. He also advised that do not release the items without receiving the check on hand. Fair enough.

On Saturday morning, the customer arrived at 10:30 am to pick the items and render the manager’s check. We checked the numbers and they were the same as what we were advised. The goods were released based on the confirmation from our banker.

We deposited the check on Monday.

On Tuesday morning, we received a call from our banker informing us that the check provided to us was a fraud and that the telephone lines of the issuing branch we called to confirm were tapped to a third party who gave us the approval of the check.

We have written the bank twice holding them responsible and it has been over a month with no response. Our bank manager has visited our office twice to assure that she is working on this case and trying to get a decision from her head office. Apparently, there is an on going investigation and some eye witnesses noticed a van of the bank’s phone company outside the issuing branch.

Friends, this was carried out professionally by a syndicate and has kept us furious trusting the banking system we have.

Your feedback and suggestions will help me a lot. Thanks.

[bardigones]

now this is a new MO.

watch out guys - let's be vigilant. but how do we counter or avoid this kind of Modus?

[theveed]

Man, that sucks, and quite elaborate... I'd suspect a syndicated act rather than bank fraud since they stole goods instead of cash...

[MRC23]

New technique huh! Connected pa with a phone company.

[Galactus]

Ganun na ba ka-high tech mga criminal syndicates sa tin?? I doubt it. The way I see it, it's either the MC was fake or excuse na lang na lang ng banko yung pag-tap kunyari ng phone lines to evade responsibility. It takes sophisticated equipment to do that, and knowing exactly which lines to tap.

Parang hirap yata akong paniwalaan na totoo tong story na to...

[the_wildthing]

I said this before. Never accept a manager's check on a non-banking day and hour.

[boybi]

kung na-tap yung phone line sa kabilang branch, which means walang na-issue na MC payable to the company, bakit nila na-confirm ito ng depository branch?

Our banker called us around 2:30 pm confirming that the check is valid made payable to our company name.

[hitomi]

kaya kapag pera, minsan maganda personal na puntahan sa banko kaysa sa tawag sa telepono.

anyway, they should keep following-up the investigation to move it along.
but having a bank - especially if it's a big one - as an enemy is an uphill struggle. hope something positive comes up.

[Sarsi]

Hello Garci!

IMO, this is an organized syndicate

[boybi]

how much ba ang amount ng MC?