1. Fraud-Related Information
Common Fraud Types
Bank Card Fraud
•Edited Bank Transfer Screenshots: Scammers may create fake transfer screenshots and send them to merchants, asking them to release the cryptocurrency without actually completing the transfer.
•Forged Bank Transfer SMS: Scammers might forge bank transfer notifications and send them to merchants using their own phone numbers (make sure to verify that the sender’s number is an official bank number).
Alipay Fraud
•Modified Nickname: Scammers might change their nickname to “Transferred xxx Yuan to you” and initiate a transaction matching the order amount.
•Initiating Payment: Scammers may directly request payment of the same amount as the order.
•Edited Alipay Transfer Screenshots: Scammers may send altered transfer screenshots to merchants, requesting the release of cryptocurrency without actually making the transfer.
WeChat Fraud
•Matching Avatar and Nickname: Scammers may use a different WeChat account to match the merchant’s avatar and nickname, then make a transfer and send the screenshot to the merchant to request the release of cryptocurrency.
•Edited WeChat Transfer Screenshots: Scammers might send altered transfer screenshots to merchants, requesting the release of cryptocurrency without actually making the transfer.
•Delayed Transfer: WeChat has a delayed payment feature. If you encounter such transfers, merchants should promptly dispute the transaction and only release the cryptocurrency once the funds have been confirmed. Do not release cryptocurrency if the funds have not arrived.
How to Prevent Fraud
•Verify Transfer Details: Check the transaction details directly in the payment software (e.g., mobile banking app, Alipay, WeChat).
•Confirm Payment Amount and Payer Information: Ensure the amount and payer details match the order.
•Transfer Funds to a Secure Account: After receiving payment, transfer the funds to a secure bank account to ensure the payment is legitimate.
By confirming these three aspects, you can effectively prevent common fraud methods. Always verify transaction details and account balances in the payment software, rather than relying solely on transfer screenshots or SMS notifications.
How to Handle Fraud
•File a Dispute Immediately: If you suspect fraud, file a dispute for the order immediately and do not release the cryptocurrency. Platform customer service will intervene.
•Attempt to Contact the Other Party: Cancel the order or request further payment if necessary.
•Report Fraud: If you have not released the cryptocurrency, report the fraud to customer service right away. The platform will take action to secure the account and prevent further transactions.
•Verify Accounts Carefully: Even with multiple orders, ensure you carefully check your account to avoid giving scammers any opportunity.
2. Card Freezing Related Information
Why Might Your Card Be Frozen?
In the context of stringent investigations into telecommunications fraud, online gambling, and pyramid schemes, authorities may collectively freeze multiple accounts and analyze blockchain data to trace the flow of funds. This approach can lead to the freezing of additional related accounts. Freezing measures can impact not only directly involved accounts but also indirectly associated ones. To mitigate this risk, users are advised to maintain the legality and compliance of their accounts and thoroughly verify the source and destination of blockchain transactions to avoid unnecessary trouble.
How to Avoid Card Freezing
•Avoid Using Sensitive Keywords: Do not include terms like “digital currency” or “Bitcoin” in transfer remarks.
•Do Not Accept Transfers from Non-Personal Accounts: If you receive funds from an account that is not in your name, ensure to return the funds via the original route.
•Separate Cards for Different Purposes: Use separate cards for receiving and making payments. Use multiple personal cards for transactions. Since receiving cards are at higher risk, filter funds received and transfer them to a safer bank card.
•Control Transaction Amounts: Avoid frequent transactions with a single bank card.
•Avoid Holding Large Amounts in Commonly Used Receiving Cards: Do not keep large amounts of funds in frequently used receiving cards. After using a card for a period, withdraw the funds, and discontinue use temporarily to avoid freezing risks from infected funds.
•Check Cards Before Reuse: Before using a previously inactive or long-unused card, verify it is functioning properly to avoid issues if funds are frozen.
How to Handle a Frozen Card
•Immediate Action: Contact the bank to understand the reason for the card freeze and identify the investigating authorities.
•If It’s a Judicial Freeze: Attempt to contact the investigating authorities promptly and explain the situation. Provide the required documents.
•Provide Evidence: This may include complete transaction records, such as bank statements, blockchain transaction records, platform order records, WeChat chat history (including communication about the transaction), and other evidence proving the legitimacy of assets, including income proof.
•If Proof Is Insufficient: If sufficient evidence has been provided but the card remains frozen, or if you encounter misconduct by investigators (such as not unfreezing funds unrelated to the case), you can file a complaint or lawsuit according to relevant laws. Authorities are required to handle the case within the legal timeframe.
Preventive Measures
•Use Dedicated Cards for Virtual Currency Transactions: Do not use cards for virtual currency transactions as your regular living, salary, or investment cards.
•Transfer Funds to a Secure Account: After receiving funds, transfer them to a major financial product account such as Alipay’s Yueli Bao or other safe investment platforms, then filter and transfer the funds to a secure bank card.
•Use Safe Investment Platforms: Transfer funds to safe investment platforms, purchase short-term or flexible investment products, and withdraw the funds to a secure bank card upon maturity.
•Manage Card Balances: Avoid keeping excessive balances on a single card. If receiving non-real-name payments, return them and mark as “Wrong Payment.” If sensitive keywords are used, return the funds and mark as “Wrong Payment.”
3. Common Issues
Real-Name Authentication
•When receiving or making payments, ensure the user is using a personal bank account.
Insufficient Funds
•If unable to top up funds in a short period, consider removing the order to avoid order cancellations or user complaints due to insufficient funds.
Sensitive Remarks
•For transfers with sensitive remarks, it is advisable to return the funds and mark as “Wrong Payment.”
Merchant Earnings
•Merchants’ earnings depend on their pricing and order volume.
Merchant Withdrawal
•Merchants can apply to withdraw from being a merchant at any time. If there are no violations, the deposit will be refunded to the account within 7 working days.
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