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Scam Alert: Empty Bank Account Modus

There are a plethora of scams out there that you need to beware of, but there is a scam that’s relatively new to the crypto world doing the rounds.

This scam has been going around the traditional finance world for many years and is a sort of twist on the Nigerian Prince scam that we’re all familiar with.

So, equip yourself and be ready for strange questions from strangers. We’re going to teach you how to spot this scam and how to keep yourself safe!

The Modus

To kick off this scam, someone will reach out to you and ask if you have an empty bank account that they could borrow. They claim they need to send some funds to it because their current bank doesn’t allow transactions from a particular exchange or that your country has better rates for Bitcoin transactions.

On the flip side, it might not seem so bad. You are helping someone out because of government regulations. Well, here’s what happens if you say yes. The person will send over the money from the exchange to your bank account and then send it on to themselves or ask you to do this.

So far, so good, right? You’d be correct for understanding so, but what has transpired is that a scammer has just used your bank account to launder his or her money.

Whether it was stolen Bitcoin or Bitcoin gained from illegal activities, the money now runs through your account.

When the feds come calling for the money because they’ve traced the trail to your address, your report will swiftly head into the negative region, and there’s also a good chance the feds will smash through your door.

Is This A Real Scam?

A lot of people still believe that you must be influenced by sending your money or Bitcoin to someone else to be scammed. Though, in this case, the scammer sends you the money and then sends it on to himself. The scam is that you’re the low person used as a laundromat to wash his dirty cash. Odds are he’ll head down to an ATM and pull out the money with a bank card that’s also not his own.

You’ll be lumped with all the legal muck and the bank to deal with. Chances are you won’t see that money back from the bank, and you’ll be whatever they laundered through your account out of pocket.

How Can I Protect Myself?

Naturally, the only way you can get caught out here is if you agree to help. They can’t do anything without your details, so as long as you don’t give strangers from the internet your bank details, you’ll be safe from this type of scam. Heck, if you disregard all messages from people you don’t know, then you’ll never get scammed.

The best security and safety against scammers is to use common sense and be alert. If anyhow a scammer gets hold of your bank account information and sends money there, then asks you to send it back to them, do not do it. Call up the bank and clarify that it’s not your money, you didn’t ask for it, and you don’t know where it came from.

They’ll trace it back and deal with the mess. You don’t want to get pulled into what lot could reveal!


    August 29, 2020

    Crypto network are all buddy’s good

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