Story about bank freezing payments?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread |
Does anyone know what happened to the story by World net daily referencing bank freezing payments to distibutors of y2k related suppliers? Was it a hoax?
-- KoFE (your@town.USA), April 17, 1999
It was NO HOAX.
-- SCOTTY (BLehman202@aol.com), April 17, 1999.
Two threads that discuss follow ups to the story:http://www.greenspun.com/bboard/q-and-a-fetch-msg.tcl?msg_id=000isu
AND
http://www.greenspun.com/bboard/q-and-a-fetch-msg.tcl?msg_id=000iqa
Warning! Warning! Some posts are heated, and others confusing. You may feel as though you've entered a backdrop for the "Lost in Space" movie. Anyway---there 'tis.
-- FM (vidprof@aol.com), April 17, 1999.
What the story reported reflected a standard procedure. When charges from a seller increase by more than a given amount over a given period, this triggers a freeze and investigation. Reason -- this is almost always evidence of fraud. The seller is usually pocketing a bundle from false chargebacks and preparing to vanish.When the investigation shows that the sales increase is legitimate, the freeze is lifted and the trigger limit is raised. No big deal.
-- Flint (flintc@mindspring.com), April 17, 1999.
I lurked at the DejaNews y2k site and Lumen Foods was on there absolutely angry at WND, saying there was actually no problem with them and their bank/credit cards. Lumen Foods "guy" (sorry his name escapes me) compares WND with Nat'l Enquirer except that WND is inferior in his view. Sounds like creative journalism to me....
-- Kristi (securx@Succeed.Net), April 17, 1999.