In the past three years, 78 of the 79 cars bought with fake bank drafts
have been recovered - and detectives were able to reunite all the relieved owners with their motors.
After their arrest and interrogation, we have recovered bank drafts
worth ` 19.
Omar Mohammed, 50, of Coulby Newham in Middlesbrough, pleaded guilty at Teesside Crown Court to four counts of possessing false instruments without lawful authority, namely two false cheques and two false bank drafts
Bank of Ireland did not establish adequate systems and controls to monitor the issuing of bank drafts
and did not check that its staff understood fully their anti-money laundering responsibilities in relation to the recognition and reporting of suspicious transactions.
The targeted company receives several small orders for goods from what purports to be a Nigerian corporation, along with legitimate bank drafts
The pair are believed to be operating across the North West using forged bank drafts
Later Dunne handed him three blank sterling bank drafts
for pounds 70,000 each.
and foreign currency, as well as monetary instruments with face value amounts of less than $10,000 (if the face value is more than $10,000, the funds would have been reported when the monetary instrument was purchased); these include cashier's checks, bank drafts
and traveler's checks.
In another scam, they force cash buyers, paying in full with bank drafts
, to fill out credit applications," said Ostroff.
This involves buying cars with forged bank drafts
and then selling them on for cash.
Cheques and bank drafts
totaling pounds 69m were found in his toilet bag.
Anyone who needs an on-the-spot visa or has passport or visa related queries can attend, although only postal orders or bank drafts
will be accepted for the visa fee.
The fraudsters - thought to be headed by a number of travellers - then send a courier to collect the goods and pay them with copied Bank of Ireland and Allied Irish Bank drafts
which go undetected until they reach the bank.
Cleveland Police are warning traders to be extra vigilant when accepting bank drafts
following a number of frauds involving high-value cars across the UK.
The corporation issues foreign bank drafts
and wire transfers in 27 currencies, as well as European Currency Units (ECU's) and provides foreign currency forward contracts, converts foreign currency checks, buys and sells currencies from more than 120 countries, and offers commission-free travelers checks in ten foreign currencies.