Fraudsters are at it again, they are constantly trying to up their games, sadly, they are ever willing to rope in as many innocent people as they can to cover their tracks. If you ever encounter a scenario like the ones below, don't be in a haste to "help". I will tell you how to safely exit and not be liable for fraud.
1) A total stranger sends money to your account, later he calls begging, requesting you send back the money to him/her but this time through another account number and name...
2) Someone buys something from you and pays with a card/bank transfer. But instead of paying you the exact amount, he/she intentionally credits your account with an amount far in excess, and is now demanding you avail cash as refund (eg buys 10k stuff and transfers 100k to you).
3) Someone meets you at the ATM and request to transfer money to you so you help him/her pull same (their claim is usually that they have exceeded their daily withdrawal limit).

More often than not, scenarios above are "created" by fraudsters and people ignorantly fall for them. Irrespective of how they are masked, these fraudsters are just trying to layer/launder their fraudulent acts through socially "acceptable" means.

There is just one way out of it that guarantees no trouble for you and the law. Just tell the "fraudster" to go and complain to his/her bank for the wrongly routed sum, NEVER GIVE CASH IN EXCHANGE FOR SUCH TRANSFERS. Banks have interbank settlement mechanisms to take care of such issues.

Further, you should lodge a formal complaint at your bank's customer services desk explaining what transpired, and authorizing them to reverse the money back to where ever it came from.

Thank you

mandae:
Fraudsters are at it again, they are constantly trying to up their games, sadly, they are ever willing to rope in as many innocent people as they can to cover their tracks. If you ever encounter a scenario like the ones below, don't be in a haste to "help". I will tell you how to safely exit and not be liable for fraud.
1) A total stranger sends money to your account, later he calls begging, requesting you send back the money to him/her but this time through another account number and name...
2) Someone buys something from you and pays with a card/bank transfer. But instead of paying you the exact amount, he/she intentionally credits your account with an amount far in excess, and is now demanding you avail cash as refund (eg buys 10k stuff and transfers 100k to you).
3) Someone meets you at the ATM and request to transfer money to you so you help him/her pull same (their claim is usually that they have exceeded their daily withdrawal limit).

More often than not, scenarios above are "created" by fraudsters and people ignorantly fall for them. Irrespective of how they are masked, these fraudsters are just trying to layer/launder their fraudulent acts through socially "acceptable" means.

There is just one way out of it that guarantees no trouble for you and the law. Just tell the "fraudster" to go and complain to his/her bank for the wrongly routed sum, NEVER GIVE CASH IN EXCHANGE FOR SUCH TRANSFERS. Banks have interbank settlement mechanisms to take care of such issues.

Further, you should lodge a formal complaint at your bank's customer services desk explaining what transpired, and authorizing them to reverse the money back to where ever it came from.

Thank you

Quite informative. Thank you.