Recently, cross-border remittance business transactions are frequent, increased shopping activities, the demand for funds, which provides an opportunity for fraudsters.

 

Specializing in cheating people who remit money back to their home countries, cheating “pot full of money”, really let people can not be defended.

 

Some people are not only cheated money, and even involve friends and relatives involved in criminal cases, which ultimately led to the freezing of bank accounts! Panda can only say, this wave of liars “empty gloves” is really playing a hand of “good math”!

 

The “high exchange rate” bait induced scams constantly

 

Recently, Singapore local news media released a set of data:

 

From January last year to the present, there are 116 people (including a number of Chinese) encountered online currency exchange and cross-border remittance services scams, total losses of up to 1 million Singapore dollars (about 5.17 million yuan)!

 

These “cross-border scammers” mainly contact their victims through e-commerce or social media platforms such as Weixin, Facebook and Twitter, claiming to be able to offer higher exchange rates and luring the victims to transfer their money to designated accounts.

 

 

Victims realized that it was a scam when they did not receive the amount they were supposed to exchange after making the payment.

 

Some Chinese victims have reported that they did receive the money, but their accounts were frozen by the police and they were involved in criminal cases.

 

This is because “transnational scammers” will mix other illegal proceeds together, and if the funds are transferred to the victim's account from this batch of money, the victim's account will be frozen or seized as a matter of course.

 

 

@其妙雪: Card frozen after transferring money from Singapore to China via Great Wall Remittance Center

 

@Leo: A friendly reminder to be cautious about exchanging money privately in Singapore

 

Repeated freezing because of remittances involved in cases

 

@游子：Ladies and Gentlemen, please advise me, I sent money home from Singapore Shanli money remittance merchant here, was frozen by the public security in China, the reason is that the person who made the money call transferred the funds involved in the case to my account, resulting in the freezing of my account, it was reported by the victim ....

 

Now Shanli remittance business, do not cooperate at all to solve the problem, and do not recognize that it is their problem ... please ask what ways to get back my hard-earned money? Please help me think of a solution, or have any suggestions can private message me, thank you .........

 

 

@口袋里有妖怪呀：Singapore remittance is terrible, today went to Chinatown met a big brother in front of a remittance center to seek justice, as if the remittance home found the money was frozen, but the staff did not solve the problem.

 

It's not easy to make money, and you need to spend money at home, so you'll be pissed off.

 

I hope that the remittance center can have a little conscience, and also hope that everyone and remittance and careful ah, and finally if you are not too concerned about the exchange rate, or to choose a reliable app remittance back, save time, effort and worry!

 

Many people are involved in this scam because of the high exchange rate. So, in Singapore to remit money back to the country, it is best to find the Monetary Authority authorized payment service providers.

 

110,000 U.S. dollars was cheated!

 

Previously, the United States, New Jersey, a Chinese woman to buy a house, introduced by a friend through a Chinese man to exchange bank cashier's checks. In the cashier's check to get their hands into their bank accounts show no harm, she will follow the domestic RMB transfer to the other side.

 

Thought everything was fine, she did not expect to end up being fraudulent, 114,000 U.S. dollars in cashier's checks were notified by the other side of the bank to stop payment, and to help her exchange cashier's checks of the man then evaporated, received a request for help from the Asian American Federation of the president of the Chen Shanzhuang, the Association has received a number of complaints of similar fraud cases, are and other people exchange cashier's checks were cheated, and through the hands of the help of the exchange of cashier's checks of the person are By stopping payment or canceling the cashier's check trick will be the victim's money fraud away.

 

Chinese graduate students traveling to Lisbon, Portugal to study were scammed when they exchanged money privately through WeChat groups. Similar cases of private exchange of money through WeChat groups have been staged all over the world, and none of the Chinese in Asia, Europe, Oceania, and North America have been spared.

 

Summary of common fraudulent remittance means

 

These scams are not really clever, after obtaining the victim's contact information, there are only 2 common fraudulent techniques, we pay more attention to recognize it!

 

Online transaction

 

The scammer will ask for the money to be transferred to the designated bank account first, and said that the RMB will be transferred to the account designated by the victim. But in fact, after the victim has transferred the money, the scammer disappears.

 

Door-to-door money transfer service

 

The scammer will meet at the victim's designated place, remit the exchanged money to the victim's designated account in person, and then take away the cash prepared by the victim.

 

However, soon after, the victim's account, will be frozen by the law enforcement unit for allegedly receiving fraudulent money or money laundering.

 

Being cheated of money, even so, after all, money is something outside the body, if involved in the money laundering activities of the fraudster, it can only be “people and money”!

 

According to the Singapore Act, money laundering is punishable by up to 10 years' imprisonment and a fine of S$500,000 per year. In addition, China's cross-border remittance policy has clear provisions, not how much you want to remit how much you can remit: each person's annual cross-border remittance of the top item is 50,000 U.S. dollars (about 67,600 SGD, 349,500 yuan).

 

Panda would like to remind you that you should never think that such a scam is too simple and you will not fall for it. Often, such scams are easy to fall for until you are deeply involved in them, and then you realize that it is difficult to get out of the scam.

 

In this troubled international transfer environment, you may want to consider Panda Remit!

 

“The key to this is the high level of security that guards each and every one of your remittances, and you deserve to have Panda Remit. We also have many advantages like user-friendly operation, fast arrival, good rate, lower fee, preferential activities and excellent service.

 

It's not easy to make money, so Panda once again reminds its family members and friends overseas to open their eyes and be vigilant.

 

I sincerely hope that my family members at home and abroad will guard their wallets well and spend a happy and fulfilling life every day.

 

 

 

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