[onewhippedpuppy]

Originally Posted by 911SauCy

My uncle's business partner did the $ transfer thing for a $48k Lexus SUV. Everything went well, guy took the car, he was happy. 3 weeks later the bank called saying the fund transfer was not legit and the account it initially drew from was fraudulent... He was out the $, took a year to get the insurance company to agree upon a "stolen" claim.

Are you sure that was a true bank to bank wire transfer? For a wire transfer the sender must have a valid bank account with the balance to be transferred, and the recipient must have a valid bank account for the money to be transferred to. The funds may take a few hours to actually transfer, but the balance is held by the sender's bank upon time of transfer. As the recipient, your bank can normally confirm within a few minutes that the transfer is valid and in progress. I'm not sure how you would defraud that system.