Security of a wire transfer

[Aventura]

As I am in deals to sell my watch and there are many people in the Forum that sell watches is the reason I ask you this question. In one of the today’s posts I read that a person was cheated with a wire transfer. I do not think that's possible, that's why my question? I am sure that when the wire enters your bank account no one but you can get the money. I do not get it. Thanks for clarification.
Have an Happy New Year

[UltimateWatchesAB]

Check this thread from @Springer, points out pretty much everything you should be aware of.

https://www.rolexforums.com/showthread.php?t=531703

Have a good year!

[HorologyK]

Or you can just deal directly with DAVIDSW and not worry about any of this BS.......

[Tangier11]

As a car dealer I have sold a lot of cars via wire transfer with no issues. The first time I did one years ago, I asked my bank manager about safety. I was told once the money is in my account ONLY I can do anything with it.

[tamiya]

Originally Posted by Tangier11

The first time I did one years ago, I asked my bank manager about safety. I was told once the money is in my account ONLY I can do anything with it.

that would be true yrs ago when the bank teller knew your face personally but these days with phishing & id theft, via electronic banking the thief is purporting TO BE YOU

There's also risk of getting paid *from* a stolen account &/or other illegit funds sources... I don't know what happens if the deceit is then discovered & the funds are still held by you.

Probability of happening is low though, if you know who you're dealing with. There'll be more chances of making a typo when inputting account numbers... and sending to wrong account hahaha. (If you typo a nonexistent account it'll boomerang, but if an account exists it'll just go in.)

[Fredrik]

Originally Posted by tamiya

There'll be more chances of making a typo when inputting account numbers... and sending to wrong account hahaha. (If you typo a nonexistent account it'll boomerang, but if an account exists it'll just go in.)

Bank account numbers are usually sparse. You need to mistype several digits to hit an existing number.