lvs-money.com - WTF ? KEEP OFF!

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Posted: Sat Jul 07, 2007 9:32 am

The term 'cleared' means many things to many people and, as I understand it, has no legal definition in banking terms.

This was an answer to the same question given by a senior bank manager of a UK bank on Eater some time ago.

Quote:

It is not possible to know for sure after 5 days that a cheque will not bounce.
In the U.K. it can take up to 15 days before a customer paying in a cheque to his account hears from his bank that the cheque has been returned by the bank on which it was drawn.
It is no use whatsoever asking your bank if the cheque has 'cleared'.
You, the member of staff you speak to and the 'Bank' will all put a different definition to the (misused) term 'cleared'.
A bank may 'clear' cheques paid in by allowing you to draw against them on day 1; they may 'clear' them for payment of interest after day 3; they may treat them as 'cleared' for this or that after x number of days but, until the bank on which a cheque was drawn definitely pays it, no one knows if it is 'cleared'.
The customer paying in a cheque only gets to know if it has been 'cleared' by default; ie the passage of sufficient time to allow the bank on which it was drawn to bounce it to your bank and for them to advise you, usually by second class snail mail.

That information describes the process in the UK and the pitfalls of acting on advice about a 'cleared' cheque.
As I understand it the process is exactly the same in other countries including the US.
However, the US banking system is very much slower and, where the process in the UK usually takes about 15 days, in the US it can take up to 6 months.
For that reason the dud cheque scam works more successfully in the US.

The reason why so many people fall victim to this scam centres around their misunderstanding of the word 'cleared'.
As can be seen in the bank managers quote above, that word means different things to different people yet has no legal definition.
So, initially, when a victim deposits a cheque in his bank account and is told that a cheque is 'cleared' what that really means is that he's free to draw against it until or unless it is, at some time in the future, rejected by the bank on which it is drawn.

Not quite a Newb Joined: 30 Jun 2007 Posts: 78

very good explanation

Posted: Sat Jul 07, 2007 5:04 pm

By the way, hawk, did you ever report this scumbag to the proper authorities?

Here's another website he was using:

Code:

www.fcimoney.net

and another:

Code:

tps-funds.com

,

Code:

www.rsm-capital.com/

Posted: Sat Jul 07, 2007 11:21 pm

Huh...no response to my many enqueries about his 'program' leads me to think safe-mail cut off access to his email account

Do I get a cool little sig icon? Very Happy

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

Not for the email, since that is standard when taking down a site, anyway.

You will certainly have earned a very well deserved flag(s) when the site(s) go down, though. Very Happy

Posted: Sun Jul 08, 2007 7:33 am

hehehe... I like flags Very Happy

Abuse sent (to the registrar, whose site is entirely in Chinese of which I had to GUESS my way around ) Razz

I'll work on the other sites in a bit..once I receive my Monty Python video from my lad Smile

Not quite a Newb Joined: 30 Jun 2007 Posts: 78

I talked with one of Supplier's cashers today, Apparently he finally got a fraudulent cheque in one of his drops. Sad

I also got this email from Susanna Keith offering a job that pays $2,000/week
with this link http://www.fi-money.net/
I noticed Supplier using a different icq # again.

Posted: Wed Jul 11, 2007 5:39 pm

/\/\/\ Haven't seen that one before. I found another one that I hadn't seen before as well.

http://www.cs-funds.com/

Posted: Fri Jul 13, 2007 7:07 pm

its exactly the same phpbb setup.
same db and all.

love it. if we can smash one, the rest will domino.

Posted: Tue Jul 17, 2007 3:51 am

H4rry B4lzack wrote:

Wait, so is this guy seriously doing money laundering right out in the open?!

It is not money laundering, unless you've received real funds in the first place.

This is a standard fake check/fake transfer scam.

Posted: Wed Jul 25, 2007 10:11 am

Is this site finally dead?

And to thyne hidden giver of the pink pony, you deserve my utmost love and appreciation Smile

Posted: Wed Jul 25, 2007 6:13 pm

It's certainly down.

Nicely done
"Know what I mean 'arry.." Cool

Whether it will soon bot again remains to be seen..

Posted: Wed Jul 25, 2007 6:50 pm

haha, yep, I know what you mean Smile

I think sending the abuse several times in Chinese worked Laughing

Wannabe Baiter Joined: 20 Jul 2007 Posts: 93 Location: USA

Ok OK I am new and I AM reading the stickies.. I promise. But I have questions, if you guys don't mind.
1) when a check cashing scam comes in - what kind of address - physical address do you give the lads when they send you the false checks? I have a character who is located in a different country than where I actually live (I'm allegedly up near the North Pole) - so how do you get the actual checks w/o revealing where you are?

2) Is it even important to GET the checks at all?

3) How how how do you actually go about shutting down a bank? I know this seems dumb because you've been discussing it all over here - but besides writing to the host, etc. = what do you do? I want to get one of those flags! Very Happy

4) I ran mugito for three days off my home broadband account and leeched (?) is that right? 191GB (it seemed huge - like 8,000,000 "items" whatever that means). I have no idea what I was actually doing, if I was actually helping anyone, etc.

OK thank you for your patience. This is all so fascinating to me I can't stop coming here to read and read.

xo Vavin

Posted: Thu Jul 26, 2007 4:11 am

Hey Vavin

Killing these sites is one of the most rewarding things you can do here and if you like I can help you personally via PM.

Regarding these "check mule" sites in which the victim cashes the fraudulent checks and takes a percentage, you don't have to receive anything. We managed to shut down this site and none of us baiters ever received a single check.

Oh and running Muguito for 3 days helps dearly! In case you don't know, 191 GB of data is a lot of leeching Very Happy

The objects count is how many images, etc. were downloaded in order to reach the data amount. Good work!

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