No way will I release a title or airplane until collected funds are in my bank account.
I know nobody has to tell
you this, but others may not realize that this is exactly what these scammers rely on! They send you paper that you deposit into your account. Looks good! The "money" shows up as part of your balance, and you're told by the bank that "Yes! You can spend it!" Must be a good transaction, right? It is, up to this point! So you ship the item and sign over ownership!
In this day and age, we assume that every finanacial institution in the world is interconnected electronically, and a transfer of funds takes little more than a computerized verification. Fact is, even though an institution may have the latest technology the world has to offer, it doesn't guarantee compatability with every other technology. When the systems can't talk to each other electronically, they then must fall back on paper transactions to finish legitimate international deals. That takes time, and gives the scammers time to receive their bootey and disappear.
So, a week or so after the funds are deposited and the deal is completed, the paper finally makes it's way across the ocean and is rejected as phoney by the originating bank. By the time your bank is notified, not only are you scammed out of the item, but you're liable for any of the deposited "funds" that you spent! There are many variations on this, including "I'll send you a bigger check than needed to cover costs, you take what is needed, and send me back the difference!"
Never send or spend anything until verification of the transaction is received by your bank! A "deposit" means relatively little!
Is that about right, Jeff?
