A pass-the-buck scam

[Stephen Tashiro]

A friend told me about a internet scam that leaves Paypal, UPS and credit card companies passing the buck to each other.
A scam online site accepts a Paypal payment for a product. The scammer ships a piece of junk to the same town as the buyer but to a different address. That way he can send the buyer a tracking number. The tracking information doesn't reveal the exact address. It only shows the town and state.

When the buyer doesn't get a package, he asks Paypal for a refund, but they say the package was delivered. The buyer contacts UPS. UPS won't reveal the address to which the package was delivered, but they do admit the package wasn't delivered to the buyer's address. The credit card company (Discover) won't refund charges because they say it is Paypal's responsibility.

The case is ongoing.

[Myk Rian]

I don't get it. What's in it for the scammer?

[Jim Koepke]

I don't get it. What's in it for the scammer?

Money for a box of junk.

jtk

[Frank Pratt]

I don't get it. What's in it for the scammer?

They get paid for a valuable thing, but shipping something worthless & all it costs them is the shipping

[John K Jordan]

he credit card company (Discover) won't refund charges because they say it is Paypal's responsibility.


I always use American Express. In my experience they immediately come down hard at even the suggestion of a problem and ask questions later. Locally or internationally. Service, products, or deliveries.

However, I haven't had any Paypal/AMEX interaction yet.

[glenn bradley]

I am careful about who I buy from via the internet. Maybe because I worked in computer communications before and through the .com explosion. Kind of like knowing too much about the old land line telephone system; the more you knew about it, the more amazing it was that it worked at all ;-)

I stick with known entities for retail purchases no matter how great the deal looks. I also use a specific credit card and bank account for online activity. Too much trouble? Like I said, the more you know . . . Trying to close the door after the fact if you are ill prepared can be very disappointing. Do a little prep work, watch your online behavior and have fun out there.

[Bill Dufour]

Maybe the scammer can be paid with the gold plated Chinese brass ingots.
I am not sure if this can be called a scam since I assume the government in China knew what was happening. The insurance company is owned by the communist government. They will have to raise taxes to make up the 2 Billion dollar scheme. I wonder if that is British 2 Billion which would be USA 2 trillion dollars.
Makes you wonder about the official Chinese government corona virus numbers doesn't it?
Bill D

https://asia.nikkei.com/Spotlight/Caixin/Mystery-of-2bn-of-loans-backed-by-fake-gold-in-China

[Mike Kreinhop]

Maybe the scammer can be paid with the gold plated Chinese brass ingots.

According to the article, the ingots were gilded copper ingots. However, whether it was brass or copper, someone should have noticed that the mass of the collateral was less than half of what it should have been. The mass density of gold is 19.4 grams per cubic centimeter (g/cc). The mass density of copper is 9.0 g/cc, and brass is slightly less than that. Even adding lead to the mix wouldn't help, since its mass density is only 11.4 g/cc.

[Bill Dufour]

According to the article, the ingots were gilded copper ingots. However, whether it was brass or copper, someone should have noticed that the mass of the collateral was less than half of what it should have been. The mass density of gold is 19.4 grams per cubic centimeter (g/cc). The mass density of copper is 9.0 g/cc, and brass is slightly less than that. Even adding lead to the mix wouldn't help, since its mass density is only 11.4 g/cc.


fixed that. I liked the one where they used tungsten plates in the middle of the bricks. I saw on TV where ancient forgers used platinum slugs and riveted on gold covers. Today the platinum is worth more then gold.
Bil lD