Miscellaneous "Book the Band" Scam

[JayeNM]

That's a classic con. I even think it's where the term 'con' came from: The 'confidence' scam. Most of these scams are based on the greed of the 'mark'. Some cons can be pretty complex, even interesting. Some good books & movies based on them.

But don't be a sucker and don't fall for anything that sounds too good to be true!

Two great movies....about the world of the con....

House of Games

The Spanish Prisoner

Must see's...

Oh...and Matchstick Men, also...

 

[Tenor Viol]

Duuuude...how could you have NOT jumped ALL OVER this ?! Seems legit to me 😳

Thing that I don't get...you deposit a check which is ultimately gonna bounce, right ? And bank would notify you within a few days of that. This isn't the 70s-80s 'catch me if you can' era where it takes 1-2 weeks for a check to bounce....

So deposit it, then wait for your bank to notify you, but of course do not send anything out.

My point being I cannot see how this would ever WORK nowadays

The UK’s clearing system bounces all Cheques by day 3, with day 4 being the final one. That system has been in place since the 1960s. The US doesn’t have a universal clearing system so it’s a much slower process. Cheques now form a very small part of the system in the UK as most people use the Faster Payments system via their online banking.

 

[JayeNM]

The UK’s clearing system bounces all Cheques by day 3, with day 4 being the final one. That system has been in place since the 1960s. The US doesn’t have a universal clearing system so it’s a much slower process. Cheques now form a very small part of the system in the UK as most people use the Faster Payments system via their online banking.

I appreciate your reply but with due respect you do not have your feet on the ground here.

Whatever the 'system' here, whether national or simply implemented by each bank....since at least 2020...here in US check insufficient funds after initial deposit will be discovered within around 3 days. I cannot remember any bounced check I deposited here in last 5+ years that took 6 or 7 days to bounce. Always quicker than that.

 

[Tenor Viol]

I appreciate your reply but with due respect you do not have your feet on the ground here.

Whatever the 'system' here, whether national or simply implemented by each bank....since at least 2020...here in US check insufficient funds after initial deposit will be discovered within around 3 days. I cannot remember any bounced check I deposited here in last 5+ years that took 6 or 7 days to bounce. Always quicker than that.

OK so you've improved your system and I've been retired from banking for over five years now. The point being made was that it had been a very slow process. The UK's process has been a maximum of 4 days since the 1960s, which is when it was computerised. The UK's faster payments system, used for smaller payments, has been in place since 2008. FPS guarantees payments within 2 hours but in most cases it's immediate.

 

[JayeNM]

I agree... up until maybe 2018ish or so...maybe a tad before, it could take a week for your bank to notify you of a bounce here. But since then, usually 3-4 days....