burntan
05-07-2006, 12:04 AM
First of all let me explain what is "3rd party scam", it is a common scam method in e-gold exchange trading. If you don't know what is e-gold then you can just take it as some kind of foreign currency. When people having e-gold and wish to convert it to cash, they can sell it to an exchanger. E-gold exchanger usually required customers to transfer their e-gold to exchanger online e-gold account first then only pay them by online fund transfer.
This is how "3rd party scam" work, a scammer will first find a victim and offer a very attractive price to buy their e-gold. When the victim agree to sell e-gold to the scammer, the scammer give the exchanger e-gold account number to the victim to transfer e-gold. After the victim transfer e-gold to the exchanger account, the scammer ask for payment from the exchanger by transfering fund to the scammer online bank account.
You see the victim thaught the scammer is the exchanger, that why the victim willing to send e-gold to the exchanger account. The exchange thaught the scammer is the customer and since they already received the e-gold, they pay to the scammer who place order with them.
Now, as an exchanger, how can I prevent this kind of scam?
This is how "3rd party scam" work, a scammer will first find a victim and offer a very attractive price to buy their e-gold. When the victim agree to sell e-gold to the scammer, the scammer give the exchanger e-gold account number to the victim to transfer e-gold. After the victim transfer e-gold to the exchanger account, the scammer ask for payment from the exchanger by transfering fund to the scammer online bank account.
You see the victim thaught the scammer is the exchanger, that why the victim willing to send e-gold to the exchanger account. The exchange thaught the scammer is the customer and since they already received the e-gold, they pay to the scammer who place order with them.
Now, as an exchanger, how can I prevent this kind of scam?