TMS Trade and Marketing Services
Consumer Report

Hired by this company to buy goods using my credit cards and ship the goods to Russian Federation. They gave me a checking account number to set up to transfer money to pay my credit cards. I made the transfers, bought the merchandise and shipped it. Later the money transfered to my credit cards was returned for lack of authorization.

Before taking this job, I had thought that the only way I could be scammed was for the money transfers to be taken back. I thought that was not possible. However, it has cost me nearly $11,000 to find out that the banking system has this flaw and these people are taking advantage of it to run their scam.

I spoke with the bank where the transfers came from (Wells Fargo) and the banks that issued the credit cards. I asked Wells Fargo if they could verify that the account I used was a valid account in the name of TMS. They said they would not give me that information. I tried the credit card banks to see if they could get the information, but they couldn't either.

I was told by one bank, Bank of America, that when a transfer is made to pay a credit card, they will make the funds available immediately as a courtesy. I would wait until the payment had been authorized by Wells Fargo before I used the money. But, BofA said the authorixation can be taken back at any time, even up to 6 months from the date of the transfer.

I contacted the FBI, but they didn't seem interested. They said they couldn't request access to information about the bank's accounts.

It seems to me that the banking system is at fault and should be revised so people can't use it to scam others.

Company: TMS Trade and Marketing Services
Country: USA

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