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I fell hard for a scam last week. It almost cost me 75K.
Don't let this happen to you.
Don't let this happen to you.
A few weeks ago, we were contacted by an importer from the UAE.
His "client" wanted to buy 1,000 of our most expensive product at full retail value.
That's a $145,000 order. At full margin.
His "client" wanted to buy 1,000 of our most expensive product at full retail value.
That's a $145,000 order. At full margin.
Looking back, I should have known it was a scam based on the order details alone. But I was blinded by the dollar signs.
Turns out, that's the power of this scam.
Turns out, that's the power of this scam.
Anyways, after about a week of emailing, he agrees to send the wire. No major hiccups in setting up the order or the payment.
We're fully expecting the money to not show up. But we refresh the bank feed about 5 times a day.
We're fully expecting the money to not show up. But we refresh the bank feed about 5 times a day.
Finally, the wire shows up in my bank account, fully cleared. We're high-fiving each other, patting ourselves on the back.
The cash is in my account. Nothing can go wrong from here. The deal is closed.
Right?
The cash is in my account. Nothing can go wrong from here. The deal is closed.
Right?
Wrong.
A few hours after the wire clears, the importer emails me to tell me that his client has decided to adjust his order due to the "nobel COVID-19."
He only wants 200 units (instead of 1,000) - and wants me to wire him a refund.
A few hours after the wire clears, the importer emails me to tell me that his client has decided to adjust his order due to the "nobel COVID-19."
He only wants 200 units (instead of 1,000) - and wants me to wire him a refund.
Stupidly, I actually consider doing this.
The money is in my account, I think. There's no scam here.
I have the cash.
The money is in my account, I think. There's no scam here.
I have the cash.
I stall for a bit, and he sends me 12 emails over the course of the next 5 days, each one more emphatic than the previous.
He finally "budges" on the 200 units and changes it to 500. But he wants the refund immediately.
He also keeps asking for my cell number.
He finally "budges" on the 200 units and changes it to 500. But he wants the refund immediately.
He also keeps asking for my cell number.
Finally, FIVE whole days later, after I seriously consider sending back half of the funds...
Direct quote out of my mouth to Jennifer: "I think I'm going to send the money back"
The check bounces out of my account.
It vanishes.
Direct quote out of my mouth to Jennifer: "I think I'm going to send the money back"
The check bounces out of my account.
It vanishes.
And there's the scam. I fell so hard for it.
Embarrassingly, I thought that once a wire hits your account, it's there for good. No reversing it.
I was wrong. So wrong.
Don't let it happen to you.
Embarrassingly, I thought that once a wire hits your account, it's there for good. No reversing it.
I was wrong. So wrong.
Don't let it happen to you.
