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Author Topic: Heads-Up: Bank Fraud Alert  (Read 7462 times)
bb113
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April 16, 2012, 11:44:44 PM
 #41




Who would use a real account for this?
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RaggedMonk
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April 17, 2012, 12:22:06 AM
 #42

Why didn't the people affected get a notified of this?

We'll likely each learn about this the next time we try to send a Dwolla payment to a bitcoin exchange.

Yep.  They will still let you fund your Dwolla account (pay a fee), and then you will realize you can't send your funds where you meant to without giving them more information than you would need to open a bank account, then you have to transfer back to your bank, realizing they are useless for you (pay another fee).  All while tying your money up for 5+ days.

They are going to piss off a lot of people with this. 
Stephen Gornick
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April 17, 2012, 11:18:38 PM
 #43

So is this policy in place and active now?   If so would expect a bunch of people who've not already verified w/ Dwolla or have not linked their Facebook to their Dwolla account to be starting new threads complaining that they can't send funds to the exchanges.

But I've not seen that yet.

Was that notice instead a trial balloon?

[Update:  Nope, not a trial balloon.  Shows up like this:



 - http://bitcointalk.org/index.php?topic=76910 ]

eldentyrell
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April 23, 2012, 12:24:36 AM
 #44

Essentially, this is what happend to us, MtGox, CampBX, Crypto and to TradeHill

I think the long-run solution might be using Dwolla only for withdrawals (from exchange to my bank account) and inter-exchange transactions (from my mtgox account to my campbx account).

If you need to get money into an exchange from anyplace other than an exchange, you're probably going to have to do a cash deposit.

The situation above is the only way I can see Dwolla being able to make a profit on $0.25/transaction, after factoring in the cost of fraud.  The fraudsters will keep getting more sophisticated.

The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators.  So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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April 23, 2012, 07:37:16 AM
 #45

I stopped using Dwolla.
Raize
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April 25, 2012, 04:25:37 PM
 #46

A friend of mine's wife just had her bank account hit with a "BillPay" request that then transferred the money into CampBX. Is this a variation on what you guys are mentioning here? I'd like to try and track the money to find out where it goes.

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April 25, 2012, 10:30:38 PM
 #47

A friend of mine's wife just had her bank account hit with a "BillPay" request that then transferred the money into CampBX. Is this a variation on what you guys are mentioning here? I'd like to try and track the money to find out where it goes.

Raize,
    Yes - banks were fooled by the fake IDs too.  We didn't deposit the flood of BillPay deposits that followed, and have put in new restrictions for BillPay deposits.

Keyur


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