Bank fraud or Syndicate at work?

[larshell]

I know almost the same story about that MC checks. The investigation result is this. The syndicate deposited an amount to the Bank and then convert it MC they make Fake one with same check# and everything. Fax the copy of MC with the recite to the Victim. After everything is verified by the victim the syndicate
withdraw the cash telling the bank that they don't need the MC no more.

The moral lesson here is that never transact such transaction when banks is close. Just like the_wildthing said Never accept a manager's check on a non-banking day and hour.

[Galactus]

One MO would have the syndicate would have a legit MC made at the bank then cancel it at the last minute before transacting with the victim.

Banks require the physical surrender of the MC before it can be cancelled. So, pag sinurrender mo na yung MC na hawak mo, then wala ka nang ipapakita sa would-be client mo.

CMIIW, Manager's Checks are funded checks, meaning it's as good as cash upon presentment, UNLESS its patently fake.

In my case, I buy MC's when I don't want to travel around the Metro with cash pero maliliit na halaga lang, (usually 50 - 100k). The amount I purchase is debited from my bank account. So, with MC's the only way na may naloloko is kung fake ito.

I don't buy the phone-tapping angle. Mahirap magkaroon ng connection sa PLDT or other telcos, who can facilitate wire-tapping for you. You have to be connected with the ISAFP or special police units (PAOCTF, PACC, NAKTAF)

[LAcars]

Exactly! But check the way this was carried out, the person that answered the line gave a name of a working employee of that branch.

Question is: Should the bank be liable for this? Majority or a portion?

Next thing we know if phone lines are tapped, our accounts may just be hacked on...there is a high risk of doing business with your own bank then.

[wildthing]

it would be just a matter of proof and facts...sorry to say this pero parang talo ka sir.

mukhang bagong MO nga yan...pero I think it was really unsafe for you or anybody else to accept check payments (kahit na MC pa yan)...lalo na kung hindi mo naman kakilala yung buyer.

[wac3]

what bank is this by the way?

[LAcars]

So u mean to say...u should never rely on your banker's word that the check is good?

In America and other countries, when your banker states that the check is good, your assured that he can credit your account immidiately for it and they do take full responsibility if it goes bad. When he confirms, he has a procedure do authenticate the check with the other branch. This is the only country Ive been where the manager has to take his word back as he did not follow proper procedures to validate the check to make sure his client is not victimized by a scam.

[shadow]

na dyaryo na itong MO na ito, mabilis lang mag tap ng lines, ginagawa ng mga linemen yan..in fact doon sila tumatawag..yun nabasa ko s paper sa avenida naman nangyari, tapos they asked muna kung anong bank and branch yun acct ng store then babalik tapos meron ng dalang MC from that branch, tapos pag tumawag na yun store sa branch ng bank nila meron mag confirmed ng MC, yun pala na divert na sa syndicate yun tel line ng bank, kasabwat daw nila mga linemen, kasi while the crime was commited yun bank nawawalang ng mga phone connections... and sinabi ng mga guard ng bank na meron daw mga linemen na gumagawa doon sa post during nun time na nagaganap yun MO

[van_wilder]

may mali rin on the part of the victim... bakit nya ni-release ang items if not yet cleared? you cannot encash a MC if its named sa corporation, thus clearing is needed, SOP ang releasing ay after clearing hindi during receiving...