Malaysia Watch Forum
Off Topic => Other Discussion (OT Discussion) => Topic started by: Yoda on May 19, 2022, 02:14:50 PM
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Hello there,
How are you guys getting? Many moons that I have not visited this forum. Just saw an article in The Star how vulnerable a watch transaction being scammed.
I do not know how you guys do the transaction but just heads up how these scammers did the modus operandi.
Also take note if you come across this model and the serial number as stated.
https://www.thestar.com.my/news/nation/2022/05/19/watch-out-businessman-conned-out-of-luxury-timepiece-he-wanted-to-sell
KUANTAN: A businessman who wanted to sell his luxury watch ended up getting conned and losing the watch worth tens of thousands of ringgit.
The man who wanted to be known as Andy, said he had listed the Rolex Explorer II watch for sale on his son's Facebook page and quickly received a message from a prospective buyer.
"The buyer known as Sen asked to meet in Kuala Lumpur to complete the sale. I was afraid he would be a no-show so I demanded that he pay for my transportation fee, which he did.
"On May 17, I drove to Kuala Lumpur and met Sen at the Rolex service centre. The watch is worth RM52,000 now but I agreed to knock it down to RM49,000 as there's some minor defects and it required maintenance.
"I had initially wanted to settle the deal at the service centre but Sen asked that we take the discussion back to his home in Menara Binjai as his wife handled his finances," said Andy at Teruntum assemblyman Sim Chon Siang's service centre here on Thursday (May 19).
While at Menara Binjai, Sen handed Andy RM4,000 in cash and said he would pay the rest through an online instant transfer.
"However, when Sen showed me the transaction, I immediately called it out that the transfer had been done through interbank GIRO. Sen was apologetic and said it was an accident.
"I wanted to call off the deal so Sen proceeded to call the bank. The so-called bank employee, whom I suspect was an accomplice, told us that since it was past 5pm, the transfer could not be cancelled," he said.
Andy said Sen then reassured him that the money transfer through interbank GIRO would be completed by 11pm that day as was bank policy.
"I was still distrustful at that time but I started to feel some pity over his mistake.
"He then brought me up to his condominium unit and when I saw it, I thought Sen must have the means to buy the watch," he said.
Feeling assured, Andy then handed the watch to Sen and went back to Kuantan.
By 11pm, Andy still had not received the RM45,000 balance and he frantically tried to contact Sen but by then, the confidence trickster had blocked his number.
On May 18, Andy lodged a police report. He said the watch had the serial number 407DY240 and asked prospective buyers out there to be aware that it was a stolen item.
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Hello there,
How are you guys getting? Many moons that I have not visited this forum. Just saw an article in The Star how vulnerable a watch transaction being scammed.
I do not know how you guys do the transaction but just heads up how these scammers did the modus operandi.
Also take note if you come across this model and the serial number as stated.
https://www.thestar.com.my/news/nation/2022/05/19/watch-out-businessman-conned-out-of-luxury-timepiece-he-wanted-to-sell
KUANTAN: A businessman who wanted to sell his luxury watch ended up getting conned and losing the watch worth tens of thousands of ringgit.
The man who wanted to be known as Andy, said he had listed the Rolex Explorer II watch for sale on his son's Facebook page and quickly received a message from a prospective buyer.
"The buyer known as Sen asked to meet in Kuala Lumpur to complete the sale. I was afraid he would be a no-show so I demanded that he pay for my transportation fee, which he did.
"On May 17, I drove to Kuala Lumpur and met Sen at the Rolex service centre. The watch is worth RM52,000 now but I agreed to knock it down to RM49,000 as there's some minor defects and it required maintenance.
"I had initially wanted to settle the deal at the service centre but Sen asked that we take the discussion back to his home in Menara Binjai as his wife handled his finances," said Andy at Teruntum assemblyman Sim Chon Siang's service centre here on Thursday (May 19).
While at Menara Binjai, Sen handed Andy RM4,000 in cash and said he would pay the rest through an online instant transfer.
"However, when Sen showed me the transaction, I immediately called it out that the transfer had been done through interbank GIRO. Sen was apologetic and said it was an accident.
"I wanted to call off the deal so Sen proceeded to call the bank. The so-called bank employee, whom I suspect was an accomplice, told us that since it was past 5pm, the transfer could not be cancelled," he said.
Andy said Sen then reassured him that the money transfer through interbank GIRO would be completed by 11pm that day as was bank policy.
"I was still distrustful at that time but I started to feel some pity over his mistake.
"He then brought me up to his condominium unit and when I saw it, I thought Sen must have the means to buy the watch," he said.
Feeling assured, Andy then handed the watch to Sen and went back to Kuantan.
By 11pm, Andy still had not received the RM45,000 balance and he frantically tried to contact Sen but by then, the confidence trickster had blocked his number.
On May 18, Andy lodged a police report. He said the watch had the serial number 407DY240 and asked prospective buyers out there to be aware that it was a stolen item.
Wow quite a complex series of convincing effort there...perhaps the condo wasnt even his. But should at least be traceable - but whether the investigation is expedited or not is another question...the watch probably probably long gone perhaps in another country liow...
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mistake #1
Going from RSC to private condominium. Should have settled the deal on the spot or walk without any refund. There's a risk of getting robbed at the condo where a bunch of people might knock him out or even while driving along the way as an accomplice could just pretend to hit his car to make him come out.
mistake #2
Feeling pity for a buyer and letting him have the watch even though money is not in your account yet. Trust your instincts. Obviously everyone already should know IBG is one means to con people where the transfer is not immediate.
Seller was probably too eager to sell as it was above market price and he thought buyer was an idiot so was prepared to take a few risks. The thief should not be silly enough to sell it locally and would ship the watch out of the country and sell elsewhere.
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mistake #1
Going from RSC to private condominium. Should have settled the deal on the spot or walk without any refund. There's a risk of getting robbed at the condo where a bunch of people might knock him out or even while driving along the way as an accomplice could just pretend to hit his car to make him come out.
mistake #2
Feeling pity for a buyer and letting him have the watch even though money is not in your account yet. Trust your instincts. Obviously everyone already should know IBG is one means to con people where the transfer is not immediate.
Seller was probably too eager to sell as it was above market price and he thought buyer was an idiot so was prepared to take a few risks. The thief should not be silly enough to sell it locally and would ship the watch out of the country and sell elsewhere.
Agreed 100%. Many mistakes indeed. For a fact he technically handed over the watch to the guy willingly, police may well drop the case as there was no violence/coercion involved.
Poor guy. Lesson learnt - Never settle for less - make sure the money is IN your account - check using your own device. They may even bring kids for that matter just to make it look legit but business is business - make sure the money is in.
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mistake #1
Going from RSC to private condominium. Should have settled the deal on the spot or walk without any refund. There's a risk of getting robbed at the condo where a bunch of people might knock him out or even while driving along the way as an accomplice could just pretend to hit his car to make him come out.
mistake #2
Feeling pity for a buyer and letting him have the watch even though money is not in your account yet. Trust your instincts. Obviously everyone already should know IBG is one means to con people where the transfer is not immediate.
Seller was probably too eager to sell as it was above market price and he thought buyer was an idiot so was prepared to take a few risks. The thief should not be silly enough to sell it locally and would ship the watch out of the country and sell elsewhere.
I agree that the seller was desperate to get the deal concluded that the fellow made rash decisions.
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A damn daylight robbery. But like what everyone pointed out, he literally just gave the watch away, tough being the kind guy.
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Crazy world...
https://www.thestar.com.my/news/nation/2022/06/09/armed-robbers-disrupt-sale-make-off-with-luxury-watches-worth-rm500k
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Times are bad just be careful when dealing with watches. Its like gold comodity
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RM500k for 3 ROLEX watches? someone mentioned daylight robbery.. maybe he meant the grey dealer???
Crazy world...
https://www.thestar.com.my/news/nation/2022/06/09/armed-robbers-disrupt-sale-make-off-with-luxury-watches-worth-rm500k
insurance claim perhaps?
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Crazy world...
https://www.thestar.com.my/news/nation/2022/06/09/armed-robbers-disrupt-sale-make-off-with-luxury-watches-worth-rm500k
OMG, group men with parangs? Its crazy, but what's even crazier is that the thieves actually came prepared & outmatch the number of personnel the owner brought along.
Either its an inside job or the thieves really did their research, just my conspiracy mind thinking out loud.
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Crazy world...
https://www.thestar.com.my/news/nation/2022/06/09/armed-robbers-disrupt-sale-make-off-with-luxury-watches-worth-rm500k
OMG, group men with parangs? Its crazy, but what's even crazier is that the thieves actually came prepared & outmatch the number of personnel the owner brought along.
Either its an inside job or the thieves really did their research, just my conspiracy mind thinking out loud.
Kan? In this day n age, there r eyes everywhere. Watching n waiting for opportunity. Beringat lah sebelum kena, be mindful of wat we wear n post online also. Stay safe > stay fabulous
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Crazy world...
https://www.thestar.com.my/news/nation/2022/06/09/armed-robbers-disrupt-sale-make-off-with-luxury-watches-worth-rm500k
OMG, group men with parangs? Its crazy, but what's even crazier is that the thieves actually came prepared & outmatch the number of personnel the owner brought along.
Either its an inside job or the thieves really did their research, just my conspiracy mind thinking out loud.
Must be the intended buyer. They know transaction few hundred k cash definitely seller will come with few people. Nowadays have to really check even if you deal in bank also can kena they are not going to rob the bank but the watch that cost few hundred k. Very hard situation if your buyer to transfer first they also afraid that you might cheat them. If settle during meeting the risk kena rob. Even you deal in police station also maybe kena pau duit kopi from them :Laughing_on_floor: