Saturday, 15 October 2016

How should we fill money order asking for purchaser signature

International organized fraud networks specialize in using unsuspecting and unwitting victims to launder money.  They do this by involving the victim in any one of a number of scams such as Employment, Romance, Charity, Lottery, Overpayment, and Relationship scams.  See Payment Processing Scams for an explanation of online employment scams, and Payment Processing Schemes Flowchart to view how the money laundering takes place.


Simple ways to fill money order asking for puncher signature:

The victim is sent counterfeit checks, counterfeit money orders, forged checks, counterfeit gift cards, counterfeit credit cards, and money wired directly into their account.
The process involves obtaining financial access through hacking or social engineering from Victim A and stealing funds from that victim's accounts by laundering funds through Victim B using one of the above listed tools.
Victim B is conned into sending the received funds via bank-to-bank, Western Union, or MoneyGram, usually to strangers overseas but occasionally to someone in their own country.  The scam victim has now engaged in money laundering, will owe the entire amount of money he or she sent off, and is at high risk of  being indicted for theft, forgery, and money laundering.

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What is a draft?
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Your check cashing and account holder responsibilities
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What it means when you endorse a draft
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How to verify a draft.
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Traveler's check warning
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What "Clear" really means
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What "Available funds" really means
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Sending a draft for Collection.
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Accepting a check made out to someone else
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Accepting payment in your name for the services or products of another
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Receiving funds wired directly into your account
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Sending money out of country by Western Union or MoneyGram
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How to handle counterfeit, stolen, or forged drafts

A draft is a money order or any kind of check, including cashier's checks and Treasury checks.  You will find a list of drafts below, but please continue reading.

Check cashing and account holder responsibilities are the same in all countries:

You cannot rely on your bank, credit union, PostBank, or check cashing store to protect you from counterfeit, stolen, or forged drafts.  It's not their job to watch out for you, it is your job to watch out for them.  Like you, merchants, banks, and credit unions have the rightful expectation of being given good money.

BY LAW YOU ARE LEGALLY RESPONSIBLE AND FULLY LIABLE for any and all checks, money orders, or cash deposited into your bank account by you or someone else, and for any funds wired into ANY of your accounts by you or someone else.

Your are 100% liable for any and all funds deposited into any of your accounts by any means whatsoever.

Funds wired into ANY of your accounts
by a stranger may be stolen funds.
This includes your checking, savings, credit card, portfolio, or any other account.
You and your accounts can be used for money laundering.

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BY LAW YOU ARE LEGALLY RESPONSIBLE AND FULLY LIABLE for any checks or money orders you cash anywhere.

What it means when you endorse a draft:

endorse / indorse: To write one's signature on the back of (a check, for example) as evidence of the legal transfer of its ownership, especially in return for the cash or credit indicated on its face.

When you sign your name on the back of any draft, you are signing a contract.  Your signature means that you "endorse" the draft, which is to say that you are vouching for the trueness and creditworthiness of the draft, and that you assume full responsibility for the draft plus any fees if there are any problems with it.

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Verifying a draft no matter where you live:

The ONLY way to verify any draft, including Cashier's Checks, is to contact the account holder and and ask that the draft be verified against the ledger.  You want to know if that draft was made out to you for that amount.

Caution: Do not call the phone number printed on the draft - these are often printed there by the counterfeiter.  The phone number may be a drop phone used by scammers to verify counterfeit checks, usually a prepaid, untraceable cell phone.  Call Information for the account holder's phone number or the bank's phone number.

Cashier's checks: contact the issuing bank.
Corporate checks: contact the corporation; for large corporations, ask for the Accounting Department.
Money orders: contact the issuing company.
Treasury Checks: contact the office of issue.
Traveler's checks: contact the issuing company.
Electronic or ACH checks: instruct your bank to send for Collection.
Foreign drafts: instruct your bank to send for Collection.

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Traveler's check warning: You cannot accept any Traveler's check made payable to you unless BOTH signature lines on the face of the check have been signed by the maker.  Under no circumstances are you to ever sign the front of a Traveler's check unless you are personally buying one.

If you take a stolen Traveler's check to a CASINO, BANK, or CHECK CASHING STORE, you are at risk of immediate detention and possible arrest.

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