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Wafty drafts

I seem to recall you writing in one of your columns to watch out for being paid by bankers draft as they are not certain to be honoured even though it is a general perception that they are automatically honoured. Can you explain what the scam is, as I am in the process of trying to sell my car and was looking to put it on eBay, before sending it to BCA Sure Sell auction, if not successful on eBay and do not wish to fall victim to a scam purchase.

Asked on 25 April 2009 by

Answered by Honest John
The main problem is drafts from overseas. UK moneylaundering legislation means your account can be credited for an amount from overseas, then it can be rescinded. Naturally the scammers make used of this. The only safe way to take payment from overseas is by Moneygram or by Western Union as they are cash, person to person, and cannot later be rescinded.
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