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13 comments on “How To Identify Online Bank Account Scams

  1. I worry that I may have opened an account with an online fraudulent bank. After I opened the account I attempted to transfer some money and I was hit with a funding clearance code before the transfer would occur. When I tried to call the bank, the message did not include the name of the institution- just a request to leave name and number. Does anyone know if Cardiff trust limited is a real institution?

    1. Deborah, we would recommend you contact your primary financial institution and discuss the specific details of your transaction with them.

  2. Ii have an account with this online bank and they sent me my username and password and the account have $4.5 million in it. This must be fake hey? They want me to pay for a cot number??

    1. There area couple of red flags here: 1) A bank may provide a temporary code to reset your password, but banks do not “know” your password – no one should know your password, except for you! 2) “COT” numbers are routinely used as part of wire fraud scams. It is not authorized by any bank.

  3. Can anyone tell me if the ( is a scam? I created an account there and when i was going to transfer the money I had there to my local bank account, they asked me to pay an extra $2500 which of course is money i don’t have, so now they said they are only goig to give me my money if I pay for that.

    1. Ana, it is definitely a red flag when you are asked to pay extra fees of any kind in order to access funds, based on the amount. If you are transferring via wire transfer, it is possible that there would be a wire fee, but those usually range from $25-$50 depending on whether international banks are invovled.

      1. They sais that the $2500 are necessary to pay for the TTP code, which i don’t know what it is. Is that a real thing that people have to pay for?

        Thank you

        1. Ana – we are not familiar with a TTP code. A Telegraphic Transfer (TT) is a method of transferring funds, primarily used by non-US banks. A charge of $2500, however, would seem to be far above a normal bank charge.

  4. Hello, could somebody explain to me what a TTP code is? I was asked to pay $2500 so the online bank i’m using gives me that code, and only then i will be able to receive my money on my bank account.

    Thank you

    1. We do not know what a TTP code is. We would recommend you call your bank where you are trying to receive the money and check with them.

    2. Additionally, the bank represents itself to be based in England, so would not be governed by any U.S. banking regulations.

  5. I have a friend who says accessing the funds from an online sign up bank is not working. The person asked me instead to use the link with an email address and send to the bank asking for assistance. The bank then replied asking for account numbers and addresses for verification and that a COT fee needs to be made as it’s an international wire transfer that is being made? I also found typo errors on the account page and through the emails sent from the so-called bank? Can someone lend their advise here please?

    1. Diana – it sounds like there are a lot of red flags! A legitimate bank will never ask you to confirm account numbers via email. Typos on a website and in emails are also commonly found on scam communication channels created outside the United States.

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