Topic: P2P Scams : Where does the government stand - page 2. (Read 967 times)
Yeah sure, We can't blame to the technology, but we have to strict and alert from the scammers. Because scammers are everywhere in the word. P2P is the most powerful things where we can use the money to deposit are withdrawn. But there is also some technical things to understand that how we can alert from scammers. Please choose the best person with many rating and positive reviews, so you can be safe in this process too.
Yes, same here and that is exactly my point mate. This criminals will go to this lengths to get all the information and this are going to be used and will be at their disposal whenever they created accounts in exchange, maybe hire someone as well to take selfies and that's it.
That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Warn everyone you can.That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Yes, that's what I did, I put a warning in our local board so that no one can fall for it. I even try to track that account after he try to scam me and the exchange favor my side that no money was sent to my wallet, hence it was really a scam attempt.
But it's going to be a long battle for us, scammers will try to create a new account after I exposed one of them. But the battle will continue though, if I encounter a new one, definitely I will give another warning.
It is impossible to track all scammers, but exchanges should be made only with verified participants who have been doing this for more than a year, but their prices will be lower than those of scammers.
Yes, same here and that is exactly my point mate. This criminals will go to this lengths to get all the information and this are going to be used and will be at their disposal whenever they created accounts in exchange, maybe hire someone as well to take selfies and that's it.
That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Warn everyone you can.That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Yes, that's what I did, I put a warning in our local board so that no one can fall for it. I even try to track that account after he try to scam me and the exchange favor my side that no money was sent to my wallet, hence it was really a scam attempt.
But it's going to be a long battle for us, scammers will try to create a new account after I exposed one of them. But the battle will continue though, if I encounter a new one, definitely I will give another warning.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
But it is not possible to open an account without the actual presence of an individual or a mandatory verification process so the bank employee also has a play in this scam. On the other hand, we can find the stolen bank account with all the credentials on the darknet from $25 to $150 depending on the balance of the account which is mostly used by these p2p scammers that is why it is important to not accept payments from freshly created accounts on p2p platforms.
It is in Europe that you need to come to the bank to open an account for you, and in Russia you can submit an application through the bank's application or the bank's website and pick up a bank card at any office of the bank's partners by proxy. In this respect, Russia is much more progressive than other countries. And even if you are not a citizen of the country, you can easily open a bank account.
I guess the banking system becomes more lenient which is one of the reasons why they started to fail at some point.
Yes, same here and that is exactly my point mate. This criminals will go to this lengths to get all the information and this are going to be used and will be at their disposal whenever they created accounts in exchange, maybe hire someone as well to take selfies and that's it.
That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Warn everyone you can. That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
I remember some banks allow users to open a bank account online if the documents are enough but they will let the account under high restrictions such as low deposit and withdrawal limits, no internet banking or at least can't able to wire over certain limits until the account holder provides all the documents by the bank office.
Even if the account opened online have less deposit/ withdrawals limits, yet the scammers are happy scamming to that limit and getting the free money. Give them any loopholes and they are ready to exploit them.
I guess the banking system becomes more lenient which is one of the reasons why they started to fail at some point.
The banking system is not lenient, they try to give facilities to their customers that they can open accounts and do all the transactions while staying at the comfort of their homes. However, they should introduce more strict measures like thumb verification and facial verifications and due to the advancement of the technology, these things can be done online.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
But it is not possible to open an account without the actual presence of an individual or a mandatory verification process so the bank employee also has a play in this scam. On the other hand, we can find the stolen bank account with all the credentials on the darknet from $25 to $150 depending on the balance of the account which is mostly used by these p2p scammers that is why it is important to not accept payments from freshly created accounts on p2p platforms.It is in Europe that you need to come to the bank to open an account for you, and in Russia you can submit an application through the bank's application or the bank's website and pick up a bank card at any office of the bank's partners by proxy. In this respect, Russia is much more progressive than other countries. And even if you are not a citizen of the country, you can easily open a bank account.
I guess the banking system becomes more lenient which is one of the reasons why they started to fail at some point.
Maybe the scammer can go and put it in a bank if that is your point. Unfortunately, there are ways that people can create bank accounts using false identification. So they can get away from it even if you as a victim report it to the authority.
In popular job search resources, there are vacancies for sellers, laborers, loaders with a very high salary. These ads are written for not the most legally literate people.
After the call, the candidate is invited to the office with a mandatory package of documents: passport, Taxpayer Identification Numbers, personal account number in the pension insurance system. And there is nothing suspicious here, this is a standard package of documents when applying for a job. The candidate signs the questionnaire, the application and the power of attorney for the company to make the employee a salary account in the bank. And here, too, there is nothing suspicious and illegal.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
Yes, same here and that is exactly my point mate. This criminals will go to this lengths to get all the information and this are going to be used and will be at their disposal whenever they created accounts in exchange, maybe hire someone as well to take selfies and that's it.
That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
But it is not possible to open an account without the actual presence of an individual or a mandatory verification process so the bank employee also has a play in this scam. On the other hand, we can find the stolen bank account with all the credentials on the darknet from $25 to $150 depending on the balance of the account which is mostly used by these p2p scammers that is why it is important to not accept payments from freshly created accounts on p2p platforms.It is in Europe that you need to come to the bank to open an account for you, and in Russia you can submit an application through the bank's application or the bank's website and pick up a bank card at any office of the bank's partners by proxy. In this respect, Russia is much more progressive than other countries. And even if you are not a citizen of the country, you can easily open a bank account.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
But it is not possible to open an account without the actual presence of an individual or a mandatory verification process so the bank employee also has a play in this scam. On the other hand, we can find the stolen bank account with all the credentials on the darknet from $25 to $150 depending on the balance of the account which is mostly used by these p2p scammers that is why it is important to not accept payments from freshly created accounts on p2p platforms. Maybe the scammer can go and put it in a bank if that is your point. Unfortunately, there are ways that people can create bank accounts using false identification. So they can get away from it even if you as a victim report it to the authority.
In popular job search resources, there are vacancies for sellers, laborers, loaders with a very high salary. These ads are written for not the most legally literate people.
After the call, the candidate is invited to the office with a mandatory package of documents: passport, Taxpayer Identification Numbers, personal account number in the pension insurance system. And there is nothing suspicious here, this is a standard package of documents when applying for a job. The candidate signs the questionnaire, the application and the power of attorney for the company to make the employee a salary account in the bank. And here, too, there is nothing suspicious and illegal.
But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
I think that is a double-edged sword depending on the person they run into.
The difficult thing with cryptocurrencies is knowing which area has jurisdiction over the case in the event of a scam. If you deal with someone via p2p and they have scammed you, depending on where you are staying, then such is enforceable against them. In contrast, if they have dealt with someone who prohibits the utilization of cryptocurrencies, then they cannot enforce such action against them.
Yeah, even here, it's just a small amount that even if you report it, might not be worth to look at by the police and the authorities, hence it's going to be difficult for the victims to recover what they have lost during the scams. Again, I myself have been attempted multiply times by scammers in the P2P in Binance and Bybit, but my experience tells me not to send the funds to them and then we try to go to arbitration with the exchanges and they found out that this are indeed scammers and so they block or ban those account. But for those who are inexperience in this field, they might easily fall for it especially when this scammers are the way dictating you what to do and pressuring you to released the crypto right away.
It's different though when we talk about banks as they are intermediary. And obviously that's why people are doing P2P to avoid banks and other middleman in people. So take away them for the equation, it's you against the person on the other side of the deal and of course the exchange that will facilitate it.
As here in our country, there are some friendly banks to crypto and I will say that we are lucky.
Maybe the scammer can go and put it in a bank if that is your point. Unfortunately, there are ways that people can create bank accounts using false identification. So they can get away from it even if you as a victim report it to the authority.
Risk number 1 is P2P exchange, risk number 2 is to hold money on a centralized exchange, risk number 3 is the use of bank cards for exchange.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
Well, P2P is one of the best and quickest way to convert your bitcoins to fiat and vice versa and it is the only option in parts of the world where the bitcoin is not legal.
To minimize the risk, one can deposit a small amount at the centralized exchange, perform a P2P transaction with limited funds only (many small transactions instead of one big transactions) and then (in case they have bought bitcoin), get the bitcoin withdrawn from the centralized exchange to the personal wallet. If one has a large amount to do the conversion, they should follow the process over and over again without exposing too much money at a single time.
The exchange transmits data on exchanges to the tax authorities, and even if you use a friend's account, your bank card data is stored in the logs.
And tax control is being strengthened in many countries. What is the risk of paying taxes on your exchanges later if the data gets into the tax office?
I've used Binance P2P service before and I have not had such experience and neither have I heard that someone was scammed before. If an issue ever arises there's a dispute center you can always table your complaint to. Binance have access to the chat history, they can see the address, track the transaction on the blockchain and can also request for bank statement if necessary. After reviewing these information I believe they will take the necessary steps to punish the faulted party and see that you get back your funds. If this doesn't happen and a situation where cryptocurrency is not legalized in your country, going to the authorities will only make this worse.
If you pay attention to the Binance platform, in the p2p section, there is always a warning aboit fraud and not releasing your coins until you confirm your fiat payment. And again, if you check the adverts section of the Binance platform, you will understand that there suspended or restricted accounts which I assume are accounts that violated binance terms or accounts that involved in scams.So, it means that there are different kinds of scams. As long as the cryptocurrency industry is concerned, there must exist scam, that is the reason everyone is supposed to be careful.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
Risk number 1 is P2P exchange, risk number 2 is to hold money on a centralized exchange, risk number 3 is the use of bank cards for exchange.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
Well, P2P is one of the best and quickest way to convert your bitcoins to fiat and vice versa and it is the only option in parts of the world where the bitcoin is not legal.
To minimize the risk, one can deposit a small amount at the centralized exchange, perform a P2P transaction with limited funds only (many small transactions instead of one big transactions) and then (in case they have bought bitcoin), get the bitcoin withdrawn from the centralized exchange to the personal wallet. If one has a large amount to do the conversion, they should follow the process over and over again without exposing too much money at a single time.
I've used Binance P2P service before and I have not had such experience and neither have I heard that someone was scammed before. If an issue ever arises there's a dispute center you can always table your complaint to. Binance have access to the chat history, they can see the address, track the transaction on the blockchain and can also request for bank statement if necessary. After reviewing these information I believe they will take the necessary steps to punish the faulted party and see that you get back your funds. If this doesn't happen and a situation where cryptocurrency is not legalized in your country, going to the authorities will only make this worse.
If you pay attention to the Binance platform, in the p2p section, there is always a warning aboit fraud and not releasing your coins until you confirm your fiat payment. And again, if you check the adverts section of the Binance platform, you will understand that there suspended or restricted accounts which I assume are accounts that violated binance terms or accounts that involved in scams.So, it means that there are different kinds of scams. As long as the cryptocurrency industry is concerned, there must exist scam, that is the reason everyone is supposed to be careful.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
I've used Binance P2P service before and I have not had such experience and neither have I heard that someone was scammed before. If an issue ever arises there's a dispute center you can always table your complaint to. Binance have access to the chat history, they can see the address, track the transaction on the blockchain and can also request for bank statement if necessary. After reviewing these information I believe they will take the necessary steps to punish the faulted party and see that you get back your funds. If this doesn't happen and a situation where cryptocurrency is not legalized in your country, going to the authorities will only make this worse.
If you pay attention to the Binance platform, in the p2p section, there is always a warning aboit fraud and not releasing your coins until you confirm your fiat payment. And again, if you check the adverts section of the Binance platform, you will understand that there suspended or restricted accounts which I assume are accounts that violated binance terms or accounts that involved in scams.So, it means that there are different kinds of scams. As long as the cryptocurrency industry is concerned, there must exist scam, that is the reason everyone is supposed to be careful.
There are few countries that still maintained the ban on cryptocurrency and just imagine someone that is trading cryptocurrency whether through P2P or other means and got scammed, do you think that he will be ready to report the case to the police? This won't happen because he knows that he might even get arrested for breaking the law of his nation. If you trade Bitcoin or other cryptocurrencies in a country that had out a ban on it, it won't have the gods to report the case because you might even be punished for that. If crypto is legal the a case can be filed.
If a cryptocurrency is prohibited in a country, this does not mean that citizens of this country cannot use cryptocurrencies in other countries. If this citizen is deceived by a fraudster, then it makes no sense for him to seek help from the police of his country. And it also makes no sense to contact the police of a foreign country if he does not comply with all the laws of another country.Above all that is being discussed here regarding how a P2P trader whose country didn't legalize bitcoin can seek redress if he was scammed, well IMO I think the whole of the bunk of retrieving the coin should be on the exchange that guaranteed the transaction as escrow. That should be the right position if the party scammed have done all necessary registrations and verified. If the transaction is in binance then they should ensure to retrieve the coin . This is like other off line P2P services, the escrow does the best effort for the transaction to be successful and in a case where it doesn't then the escrow or guarantor is held liable.
However, in the case of P2P in exchanges, I could suggest a deposit fund or reserve by each trader (based on their level of amount) where an exchange could dip in to repay a defaulting party and with that, the scam issues will have a natural death .
Example. The scammer registers on the exchange using someone else's documents and makes several honest P2P exchanges.
Then he is looking for a client to buy bitcoin for 1000 dollars in telegrams.
When the client is found, the scammer makes the same request on the exchange and gives the victim the details for transferring a verified trader. The victim transfers money, the fraudster on the exchange receives bitcoins and quickly withdraws them from the exchange.
Then the victim and the trusted trader sort things out in the police or in court.
There are few countries that still maintained the ban on cryptocurrency and just imagine someone that is trading cryptocurrency whether through P2P or other means and got scammed, do you think that he will be ready to report the case to the police? This won't happen because he knows that he might even get arrested for breaking the law of his nation. If you trade Bitcoin or other cryptocurrencies in a country that had out a ban on it, it won't have the gods to report the case because you might even be punished for that. If crypto is legal the a case can be filed.
If a cryptocurrency is prohibited in a country, this does not mean that citizens of this country cannot use cryptocurrencies in other countries. If this citizen is deceived by a fraudster, then it makes no sense for him to seek help from the police of his country. And it also makes no sense to contact the police of a foreign country if he does not comply with all the laws of another country.Above all that is being discussed here regarding how a P2P trader whose country didn't legalize bitcoin can seek redress if he was scammed, well IMO I think the whole of the bunk of retrieving the coin should be on the exchange that guaranteed the transaction as escrow. That should be the right position if the party scammed have done all necessary registrations and verified. If the transaction is in binance then they should ensure to retrieve the coin . This is like other off line P2P services, the escrow does the best effort for the transaction to be successful and in a case where it doesn't then the escrow or guarantor is held liable.
However, in the case of P2P in exchanges, I could suggest a deposit fund or reserve by each trader (based on their level of amount) where an exchange could dip in to repay a defaulting party and with that, the scam issues will have a natural death .
There are few countries that still maintained the ban on cryptocurrency and just imagine someone that is trading cryptocurrency whether through P2P or other means and got scammed, do you think that he will be ready to report the case to the police? This won't happen because he knows that he might even get arrested for breaking the law of his nation. If you trade Bitcoin or other cryptocurrencies in a country that had out a ban on it, it won't have the gods to report the case because you might even be punished for that. If crypto is legal the a case can be filed.
If a cryptocurrency is prohibited in a country, this does not mean that citizens of this country cannot use cryptocurrencies in other countries. If this citizen is deceived by a fraudster, then it makes no sense for him to seek help from the police of his country. And it also makes no sense to contact the police of a foreign country if he does not comply with all the laws of another country. These days there are a lot of P2P scams on Binance and other platforms. The P2P platforms are not be blamed but the scammers are coming up with new ways to scam people who are new to the crypto world.
Recently Binance did a P2P scam awareness session with our local community which was very informative.
The recording can be watched here https://www.binance.com/en/live/video?roomId=2138115
Now my question is that in my country, crypto is not legalized, so in case if anyone is scammed through P2P, we can't take up this matter in the legal court because the country does not recognize the transactions of crypto in the first place.
Does this gives a free hand to scammers as they know that they cannot be punished by a court of law
I've used Binance P2P service before and I have not had such experience and neither have I heard that someone was scammed before. If an issue ever arises there's a dispute center you can always table your complaint to. Binance have access to the chat history, they can see the address, track the transaction on the blockchain and can also request for bank statement if necessary. After reviewing these information I believe they will take the necessary steps to punish the faulted party and see that you get back your funds. If this doesn't happen and a situation where cryptocurrency is not legalized in your country, going to the authorities will only make this worse.Recently Binance did a P2P scam awareness session with our local community which was very informative.
The recording can be watched here https://www.binance.com/en/live/video?roomId=2138115
Now my question is that in my country, crypto is not legalized, so in case if anyone is scammed through P2P, we can't take up this matter in the legal court because the country does not recognize the transactions of crypto in the first place.
Does this gives a free hand to scammers as they know that they cannot be punished by a court of law
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