15 February 2008 15:19

Business Deception

Attempted deception foiled through good working practice and diligence on behalf of an employee.

Recently a business on Wrexham Industrial Estate became the victim of an attempt deception, only through good working practice and diligence on behalf of an employee was the scam discovered and subsequently reported to the police.

It works like this: the offender will contact the victim IE: a business on the pretext of purchasing a product, this contact will normally be by phone or e-mail and very rarely in person, this allows the offender the to maintain their anonymity. The offender will want to purchase a significant amount in terms of financial value thus making the deal attractive. They will want the victim to provide their bank details so monies can be deposited. The offender will then deposit the monies by way of a bankers draft delivered to the bank by express delivery, the actual amount deposited far exceeds the original amount discussed and the offender will contact the victim saying there has been a mistake EG: the agreed price for the product was £10,000.00p but the bankers draft was for ten times that IE: £100,000.00p so they ask the victim to refund them the balance IE: £90,000.00p.

It subsequently turns out the bankers draft is a forgery and the business not only hasn't actually sold anything but is in debt.

ADVICE

That old saying: if it sounds to good to be true than it probably is.

Insist on meeting potential customers in person, particularly when large sums are involved.

Ask your banks advice, that's what you pay bank charges for.

Never give out bank details over the phone.

Verify your customers details, be suspicious if they don't have a landline number or verifiable address.

Be suspicious if whats been planned gets changed, don't be pressurised into rushing.


FRAUD ACT 2006

The law regarding fraud changed on 1st April 2007, Banks and Financial Institutions, represented by the Association of Payment and Clearing Services (APACS), wil in most cases, become the first point of contact for victims of fraud for Cheque, Plastic card and Online Banking, known as Economic Crime. Police will only be advised of a Fraud, reported to a Financial Institution, if the Financial Institution is satified that there is a reasonble chance of a suspect being brought to justice through Police Investigation.

The types of financial transactions that are covered by this new fraud recording process are:

Fraudulent use of cheques and cards.
The cloning of debit and credit cards resulting in unauthorised/unlawful transactions.
Movement of money from bank accounts i.e. unauthorised transfers.
Unauthorised/ unlawful cash withdrawals from ATM's.


WHAT DOES THIS MEAN TO YOU?

If your credit card has been stolen and has been used fraudulently then report it to the police who may record a statement, if the offender is identified the police will deal with it there and then, if not YOU will be advised to report the fraudulent transaction/s to your bank.

If you believe your credit card has been compromised/cloned and unlawful transactions carried out and there is no known offender, YOU report it to your bank, the police will not attend but you can still contact them for an incident number as a reference for the bank.

It will be the Financial institutions discretion to report any offences to the police.

In essence the financial institutions are often better equipped to investigate some aspects of Economic Crime and the onus is on them to take your complaint, however if in doubt contact the police.

Bob Powell
Constable/Cwnstabl 1586
Co-ordination Unit/Unded Cyd-drefniant,
Office 18,/Swyddfa 18
Redwither Business Centre/Canolfan Busnes Redwither,
Abbey Road/Ffordd Abbey,
Wrexham Industrial Estate/Stad Ddiwydiannol Wrecsam
LL13 9XR.
Tel/Ffon: 01978 664879 Fax/Ffacs: 01978 664879
Mobile/Symudol: 07854 357459

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