charlesucheh:
The guy no wise!

wetin happen to body work??

our security system are not that sharp!

he only made those bunch of fish brains look like they knew their jobs.

NB: not encouraging illegality, just pointing out the possible loopholes to both the police and the tiff.

IMO01:
I sell cars

Draslo:
The only reason this guy got caught is because the victim greased the hands of he police. If you no get money, no case for where police dey.

Kingosytex:
Flash funds is very common now.

Most sellers in Onitsha no longer accept payments via bank transfers except he or she knows the buyer too well.

You either pay in cash or make use of a POS.

kenzysmith:
how they take dey do this fake alert abeg

beehivedata:
Can't a credit be confirmed if it's a flash funds or not by the recipient checking with his bank app? Please respond.

goshen26:


I'm confused!

Does it mean that the fake alert is added to the previous balance of the beneficiary?

Or how do they do it?

typicalgamer:


This man you enter class finish,

If na some men when I know there will be no way on Earth anybody can find that car except hidden tracker they inside.

Pack am for one compound change body work chisel serial number comot from engine forge paperwork and you're golden

Kingosytex:


In most cases it can be confirmed but the credit vanishes after 24 hours.

Also note that the credit can't also be withdrawn.

beehivedata:
Ha, so no way one can confirm if a received amount is legit or flash?

Kingosytex:


No way.

charlesucheh:
Even tracker get him medicine.

you dey even talk of serial number for engine! na how many Lexus them go embarrass for road before them get serial number?

by then, one lawful citizen go don carry dem go claim damages for court wey go pass the Lexus money. body work and paper work. case closed walahi....No be Nigeria police

RisenPhoenix1:
This fake alert doesn't make sense. I'm not giving anyone any goods or service until I see my new account balance on my online banking platform on my own system. Plus I never give out the phone number connected to my financials to anyone. I have other, separate phone numbers for calling the different groups of people I need to call.

That should be obvious.

SaintUlot:


They have upgraded, you will see your account balance increased when you check your app, you ll receive email alert with your new balance showing, you will get sms alert too. But the fake transfer ll disappear with no trace after some time. It is called flash transfer.

IMO01:
I sell cars

Kingosytex:


Yes of course, the fake alert is added to the previous balance of the beneficiary.

NB: The amount can't be withdrawn and in most cases it vanishes after 24hours.

RisenPhoenix1:


How can they do that without hacking into the bank system at the very least?

Edit: I researched it, they actually do it through the bank servers. It is only reversed when the bank servers are unable to detect a source, when it will be reversed. I believe this can easily be countered by waiting for a confirmation period of at least 24 hours after receiving the alert before supplying the goods or service.
The onus is on the banks to stop this flash transfer method by conforming the source before crediting an account.

fid3fid:


You mean they actually hack into the bank server to credit the account?

Since reversal is 24hrs, why them no fit credit their own account then rush enter bank to withdraw it before reversal?

typicalgamer:




No to endorse thievery or fraudulent activity but those guy's na clear amateur

RisenPhoenix1:


No. They fake a transfer using the proper protocols but without originating from a source. The receiving bank credits the account, assuming that it originates from another bank. However, when it fails to discover a source, since there is no actual originating bank, it reverses the credited transaction within 24 hours. By then, the good would have been collected and the scammer disappeared.

They could potentially, but using their own bank account will identify them as fraudsters, and their BVN will be used to ID them. If a bank is defrauded in this manner, it will go to any length to get the culprit, not exactly a good outcome for the scammer. But by flash crediting someone else's account instead, they cannot be identified since there was no actual originating source.

It is very innovative. I'm really impressed. I just wish that people would put such brilliant minds to more productive use.

PastorandMentor:
If you must accept transfer, walk into the bank with the customer and let the teller guys do it.

Kingosytex:
Most sellers in Onitsha no longer accept payments via bank transfers except he or she knows the buyer too well.

Tulsaguy:
Honest advice to everyone.

If a customer proposes a bank transfer. Don't turn them down, you are into business.

Accept the transfer offer, but as soon as you receive the alert....transfer it to another bank of yours and get alert as well before the customer leaves.

It's better to even have a special account to receive alerts like me!


Experience is the best teacher.

Kingosytex:


Yes of course, the fake alert is added to the previous balance of the beneficiary.

NB: The amount can't be withdrawn and in most cases it vanishes after 24hours.

cvarinzechukwu:
Someone should help me with 20k to complete my school fees
0050207762
Diamond bank

SaintUlot:



What's the account name?

SaintUlot:



What's the account name?

RisenPhoenix1:
This fake alert doesn't make sense. I'm not giving anyone any goods or service until I see my new account balance on my online banking platform on my own system. Plus I never give out the phone number connected to my financials to anyone. I have other, separate phone numbers for calling the different groups of people I need to call.

That should be obvious.