Wednesday, August 18, 2010

Wire transfer

A central element of advance-fee fraud is that the transaction from the victim to the scammer must be untraceable and irreversible. Otherwise, the victim, once they become aware of the scam, can successfully retrieve their money and/or alert officials who can track the accounts used by the scammer.
Wire transfers via Western Union are ideal for this purpose. The wire transfer, if sent internationally, cannot be cancelled or reversed, and the person receiving the money cannot be tracked. In fact, that person often does not have to provide identification; they only have to know the identifiers of the transaction such as the control number (MTCN) and does not need the "secret question". Thus, the overwhelming majority of scams involve making payment via wire transfer. Other similar uncancellable forms of payment include postal money orders and cashier's checks, but as wire transfer is the fastest method, it is the most common.

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