From: Toto <toto@sk.sympatico.ca>
Date: Mon, 13 Jan 1997 23:50:30 -0800 (PST)
To: "William H. Geiger III" <whgiii@amaranth.com>
Subject: Re: Checking debit
In-Reply-To: <199701132321.RAA30596@mailhub.amaranth.com>
Message-ID: <32DB4470.3813@sk.sympatico.ca>
MIME-Version: 1.0
Content-Type: text/plain


William H. Geiger III wrote:
> 
> >DEBIT YOUR CUSTOMERS' CHECKING ACCOUNTS ... 
> >Close sales at your Web site, close telephone sales immediately, ship
> >merchandise immediately(!) ...by drafting the customer's checking account.
> 
> 
> If they are capable of getting access to funds in an account just by a phone
> conversation this is truly a sad state of affairs for the banking community.
> 
> Could somone here with more banking background clarify this?

  From view of my own past experience, this seems to be much easier than
lugging all that acetylyne equipment into the bank in the middle of the
night.
  Sounds to me like the people using this scheme need to get ahold of
fuck@yourself.up and get a mailing list of the gullible folks who
ran the executable that he made available to the CypherPunks.
  Perhaps they could combine their projects. First you get the mark's
banking info, then you crash his hard drive to keep him busy while
you drain his account.

Toto