Fake Banker's-Drafts
Discussion
I read today in Classic Car Weekly that Fake Banker's-drafts are being used to catch out unsuspected classic car owners and other car/bike owners etc.
Sellers have parted with the cars, keys and log-books and been left with zilch!
They cannot even claim anything from their insurance companies as they say the cars were taken by deception and not stolen!!! You have been warned!
Sellers have parted with the cars, keys and log-books and been left with zilch!
They cannot even claim anything from their insurance companies as they say the cars were taken by deception and not stolen!!! You have been warned!
shuvitupya said:
Anyone that accept a bankers draft without clearing is a fool anyway. Genuine or not!
Bankers draft is just a normal cheque written by the bank.
Correct me if i'm wrong but i always thought Banker's Drafts were always honoured by the bank issueing them . Unlike a normal cheque they couldn't be cancelled once transferred to seller.
However unlike real Banker's Drafts the ones being used are Forgeries,apparently they are GOOD fakes.
I'm just passing on the news that no Banker's-drafts should be treated like cash anymore.
By the way, I do hope no-one who has fallen for these fraudsters, takes offence at you calling them fools!!
gilberninvader said:
Well cash can be fake too.
You know your absolutely right, perhaps we should all in future drag prospective buyers down to our banks and ensure the Bank approves of the money or drafts etc,first before parting with any goods!
Is this what you always do then VH?
Personally I check the notes rather than doing that.
(& I don't accept bankers drafts as cash either)
vonhosen said:
Well cash can be fake too.
You know your absolutely right, perhaps we should all in future drag prospective buyers down to our banks and ensure the Bank approves of the money or drafts etc,first before parting with any goods!
Is this what you always do then VH?
Personally I check the notes rather than doing that.
(& I don't accept bankers drafts as cash either)
What do you personally look out for when checking for a forged note, is it
a)Quality of paper ie thickness , texture, etc
b) watermarks
c) metal strip
d)quality of ink and crispness of outlines etc.
If you look out for all the above, then all these can be copied and very convincingly too!
So unless you have one of those ultra violet machines and check each note individually, then I don't think you can honestly detect the best forged notes against the real thing!
You might detect a bad forgery but so can we all!
I think my earlier idea then of taking buyer along to bank and getting ones bank to accept cash first is the only solution in this day and age-Very Sadly!
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
redboy said:
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
It surprised me when I first heard of this, but a bank can accept a draft as genuine and then turn round a couple of weeks later and refuse to honour it
The last car I sold I went to the guy's bank with him when he collected the draft as I figured they'd struggle to get out of that.The last time I accepted a Bankers Draft for a car I telephoned the issuing branch to ask them if it was genuine. They were a little suprised but understood why I was doing it and were very co-operative. Just make sure you look up the telephone number yourself and don't get it from the guy giving you the draft.
Makes me laugh. I once took a banker's draft with me and the purchaser to a branch of the issuing bank, and asked them to check it. The clerk took it from me, looked it up and down, handed it back and then said
"Yes, sir - this is a banker's draft. It's as good as cash."
Me: "Yes, I know what it is, I asked you if you could check it."
Her: "I have. It's a valid banker's draft"
Me: "What I meant was - can you not phone the issuing branch and confirm it was issued? I mean - how do I know this isn't a forgery?"
She looked completely stunned. It had obviously never occurred to her. She eventually did as I asked. Unbelievable.
"Yes, sir - this is a banker's draft. It's as good as cash."
Me: "Yes, I know what it is, I asked you if you could check it."
Her: "I have. It's a valid banker's draft"
Me: "What I meant was - can you not phone the issuing branch and confirm it was issued? I mean - how do I know this isn't a forgery?"
She looked completely stunned. It had obviously never occurred to her. She eventually did as I asked. Unbelievable.
redboy said:
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
redboy said:
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
sad tale of some guys losing £25,000 from the sale of their M3, accepted a Banker's Draft, had it cleared into the bank only to be told,
'TWO WEEKS later, he gets a letter from the bank, saying the money has been debitted from his account as the draft was fraudulent. That was it. No advice or contact details for their fraud dept. Reported the matter to the police who, quite frankl, were poor in their response.'
So just don't accept banker's drafts then, take note if thinking of selling your motors soon!
gilberninvader said:
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
sad tale of some guys losing £25,000 from the sale of their M3, accepted a Banker's Draft, had it cleared into the bank only to be told,
'TWO WEEKS later, he gets a letter from the bank, saying the money has been debitted from his account as the draft was fraudulent. That was it. No advice or contact details for their fraud dept. Reported the matter to the police who, quite frankl, were poor in their response.'
So just don't accept banker's drafts then, take note if thinking of selling your motors soon!
Payment in Beer is safer
A cleared personal cheque backed up with proof of ID or cash then
Or just PX the car. It would save a lot of bother.
Edited by shuvitupya on Friday 2nd June 22:34
shuvitupya said:
Interesting / related topic here -> www.pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0
sad tale of some guys losing £25,000 from the sale of their M3, accepted a Banker's Draft, had it cleared into the bank only to be told,
'TWO WEEKS later, he gets a letter from the bank, saying the money has been debitted from his account as the draft was fraudulent. That was it. No advice or contact details for their fraud dept. Reported the matter to the police who, quite frankl, were poor in their response.'
So just don't accept banker's drafts then, take note if thinking of selling your motors soon!
Payment in Beer is safer
A cleared personal cheque backed up with proof of ID or cash then
Or just PX the car. It would save a lot of bother.
But beer could be faked just like cash!!'let me just try another one i think that last pint was fake!!
So I agree with you, keep your car until cheque clears and keep proof of id like driving licence/etc( but even those can be faked too!!)
so that leaves PXing car but then you maybe getting a stolen car etc in exchange : eek:
Anyone tried bacs or electronic transfer for a car like they do for houses?I think fees are only £20 or £30 for piece of mind!!
Edited by shuvitupya on Friday 2nd June 22:34
As I said in the other thread, would the bank be liable if the criminal paid the fake bankers draft into an interim account such that the funds to sellers are wired from that account - prior to the draft being exposed as fake ?
Either way, I think I can see bankers drafts dying a death......
Either way, I think I can see bankers drafts dying a death......
gilberninvader said:
Well cash can be fake too.
You know your absolutely right, perhaps we should all in future drag prospective buyers down to our banks and ensure the Bank approves of the money or drafts etc,first before parting with any goods!
Is this what you always do then VH?
Genuine notes will leave a colour trace if you rub the note hard against a piece of white paper. Forgeries will not do this!
Whenever I've been faced with selling something expensive I only give 2 ways of paying:
1. Cash - My Mrs knows someone that works at the local shop - just a 2 minute walk away. We pop up there with the wedge and they use their gadgets to check all the notes for us
2. Personal Cheque + cash deposit. Bank the cheque, buyer returns when its cleared to pick up the goods. Boucned cheque = kept deposit :-)
1. Cash - My Mrs knows someone that works at the local shop - just a 2 minute walk away. We pop up there with the wedge and they use their gadgets to check all the notes for us
2. Personal Cheque + cash deposit. Bank the cheque, buyer returns when its cleared to pick up the goods. Boucned cheque = kept deposit :-)
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