Over payment scams

We have had several enquiries from the Middle East that at first seem to be from genuine bonafide organisations. The enquiry is plausible, and has a level of technical knowledge beyond that of the average fraudster telling you about a bogus lottery win, or secret Iraqi gold bullion. They seem to be targeting laser and optical suppliers just now, several customers have had the same experience too.

Annoyingly it takes some time to respond to the enquiry, offer a quotation, and process an order; only to find out it is an “overpayment scam” You will be told that instead of the say 5,000 Pounds you were expecting in payment for goods, a far larger amount like 52,000 Pounds has been transferred by mistake, along with some pleas like……

“We appreciate your understanding, the error on payment was caused in accordance of total orders the client placed with our company while some were purchased from other companies, the client advised that we should proceed with the order regardless of the mismatch in the amount transfered, any charges incurred should be deducted from the payment so we don’t have a delay in receipt of the ordered product, then we supply you with the account details for the refunds after which the shipment will then be completed…..

If you don’t know how this then goes on to con you,  the Royal Bank of Scotland has a short explanation on their web site.

One thought on “Over payment scams

  1. As a small business owner, I was targeted as well. Luckily I was weary of the request from the start.

    A bogus transfer was actually initiated into our money market “Junk” account. We give this account info to customers for all inbound wires (new customers, overseas customers, etc.). We move this money to our main account as soon as it is verified. For idiots wasting our time (like below), we don’t have to worry about our main account information getting into the wrong hands. Be careful!

    chonglinyongtrading@gmail.com> wrote:
    Hello ,

    Good day to you and how are you doing today?

    In reference to our last email regarding the payment of the order we have with your company, Our client informed that the payment in amount of $48,230.00 was moved from his account believes should have been received in your bank.

    This he claims is in accordance to the total quotes i supplied him on payment of orders he placed with your company while some were purchased from other companies and advised that we should proceed with the order regardless of the mismatch in the amount transfered, any charges incurred should be deducted from the payment so we don’t have a delay in receipt of the ordered product as charges on the transfer as been concluded.

    Need you to contact concern persons in confirming the payment at your ends and get me informed upon its receipt for further directives to be then supplied.
    Sorry for the inconveniences this time and hope we do more successful purchases in future. Do get an urgent response supplied Soonest.

    Warm Regards,

    CHONGLIN TRADING LTD
    2 Kexeyuan Nanlu Haidian District
    Beijing 100080, PRC
    China

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