The Rip Deal is a fraudulent currency exchange transaction. The scammer uses many different tricks, all with the same goal; to cheat their victims out of their money.
How a Rip Deal transpires
The scammer will typically display an ad (eg, boat ad) to lure in their victims. Most currency exchange scams find their victims in this manner.
After contact, a meeting is arranged - usually abroad. At this meeting, the fraudster steers the conversation to currency exchange or cash transaction.
The victim is offered an exchange for Euros or vice versa US Dollars. Sometimes the scammer pretends his has also been a victim of black or laundered money, which is his excuse for why the currency exchange must be done secretly.
There is virtually no limit in the scammer's mind regarding the fraudulent currency exchange.
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counterfeit money or facsimile notes instead of real money
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an empty briefcase of money
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prepared bundles of money, where only the top note is real
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counterfeit money, which is printed with removable ink
Distinctions
How to spot currency exchange scams
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the supposed buyer requires you to pay brokerage fees and commissions in cash
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the payment transaction must be made in cash
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unreasonably high profits are promised
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the meeting place for the transfer is in a foreign country (Northern Italy, France, Spain, Turkey or Benelux)
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meeting place
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the supposed prospect wants to meet in a public place
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the meeting point and agreed time is changed on short notice.
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the price of the object in your ad is accepted without testing and/or inspection
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Besides the actual transaction (eg House Sale ) other transactions (including foreign exchange transactions ) should be liquidated.