Reminder to double check banking statements

A gentle reminder that you as the BTC seller need to double check that the bank account details you see at your bank statement matches the data you see in the payment account of the buyer in Bitsquare!
Also the trade ID need to be used as reference text as defined.
If any of those do do match please open a dispute (cmd+o).
You will NOT lose your security deposit by being careful. That gives the arbitrator the possibility to inform the peer about the rules as well as to double check if in case there is doubt.

Social engineering scams never happened so far in Bitsquare but with higher BTC prices they might come some day.

We will also introduce more strict policies in the next version, so users who don’t follow those rules and don’t read the instructions might lose their deposit.

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Seems we got the first social engineering scam attempt. Luckily the seller was careful and we are still in the dispute process to find out if it was a scam attempt or not, but looks like…

So please take what I wrote above serious!

We will also start to not tolerate mistakes here anymore.
So if you use a different bank account for sending the Fiat as you have defined in the the application you will lose your deposit.
Same is true for not correct reference text (has to be Trade ID only).

Evidence by Pagesigner will be required in doubt.

I don’t see why the scammer didn’t put the victim’s bank details after asking them. The Trade ID seems to work the best here, especially if it was in the format to notify the victim that they are paying for something else, like the “Buying yellow flowers” example.

if this will be enforced for fiat currencies it will be the same for crypto curencies. But it will not work with crypto currencies because of HD wallets. My opinion is that if someone is giving out his complete banking reference to someone else including one time password lists then its his own responsibility. And it will never be never a mass phenomenon …

After further investigation of the seller it turned out that is is not a scam attempt.
I still need to read up all but seems to have been used and the buyer just did not know what his girlfriend was doing with his bank account (he knew she has access - so nothing wrong there).

But anyway we need to take care, those scammers exist and might hit us some day.
If all sellers do a proper verification of the bank details and reference ID it will be at least much harder for them.

I will update if I find relevant news…

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While it is very clearly marked, when you are about to make a payment, that the buyer needs to specify the ID of the transaction so the seller can identify the payment and match to the transaction, the requirement that the payment has to be made from the same account as the account listed in the “list of accounts” is not clearly labeled.

I just made a cash deposit to a transaction which I had listed as SEPA, at the moment it was more convenient to me to just walk to the sellers bank branch in my town hand over the IBAN and make a cash deposit, had I known this was not allowed I would have used the account listed; fortunately, I clearly specified the ID, but its been like 24 hours since the payment was made and the seller is not acknowledging receipt of the money on bitsquare, so probably it will go to arbitration.

I hope the trade partner or arbitrator will have mercy on your soul. :smiley:
It’s an honest mistake.

Well, I hope mercy won’t be required as I have the original deposit receipt clearly showing payment, beneficiary, account, clearing number, etc, etc…