[ale] [OT] new kind of scam

[List]

All correct, except a couple of minor points. 

The bank can, in fact, arrange to "bounce the check" on a wire or other 
ACH transfer.  It is not easy to do, but can be done by someone who has 
talent and guile.  Be very, very careful in accepting transfers from 
non-US banks for this reason.  I wrote an ACH transfer system once, and 
we had to write special code to make the system work correctly for the 
(perfectly legal) ways that transfers could be reversed.

Also, a cashier's (or bank) check can have a stop payment order enforced 
on it.  Even after it has been presented for deposit.  Actually had this 
happen to me once.  I ended up getting paid, but it was not easy or 
cheap to resolve the issue.

Tom

Mike Harrison wrote:
>> I got what follows in the mail this afternoon, and my response
>> was "NO!" followed by declaring my willingness to sell _only_
>
> While legally, a check can be printed in plain blank paper,
> or even hand written...
>
> You'd have to be insane to do such bizarre things
> in an age of PayPal, ACH/Wire Transfers, Credit Cards,
> Western Union/Moneygram,
>
> His "electronic cashiers check" phrase is laughable,
> unless he were a scammer and you were crazy..
>
> A cashiers check is a check from the BANK..
> They don't need you to print paper, they have a "FedLine"
> as well as private electronic transfer means.
>
> I've done some large hasty transactions from odd parties
> by having them wire the money to my bank, notifying my bank manager
> first (you need his wire transfer ABA routing and account number anyway,
> and it's a one-way account (money goes in..)). Then you go to your bank,
> pay the wire transfer fee (if any) and deposit the money or cash it.
> And that way the sender does not know your account numbers, and can't
> bounce the check. It's too late.
>
> To be on-topic a bit: Once upon a time I built a Linux based ACH 
> processing system called Qdebit, it worked, processed LOTS of money..
> until the people that owned it snorted too much coke. It was glorious
> watching two 6way HP cubes running RedHat and Sybase 11.0.3 move money
> and sad when I had to unplug the systems.
>
>
>
>
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