how and why is cash highly susceptible to fraud?
828401
Cash is difficult to trace for the most part. Since this is the case it is easiest to spend and can be spent immediately after a theft. That liquidity makes cash the most enticing fraud.\n\nIt is hard to identify stolen money, especially if it has been laundered. Criminals take the money and then declare the ill gotten money is income from a legitimate business. Once the money looks like standard income, they spend it freely. That is how the Mafia worked for so many years.\n\nTake care,\nTroy
45478
www.ftc.gov/ftc/consumer.htm \nwww.fraud.org Protect yourself from clever scams! Please be EXTREMELY WARY of offers by distant strangers to send you a high value (but counterfeit) cashier's check/USPS Money order, and then have you wire the balance to them.  Banks will cash these counterfeit checks/USPS Money orders, but then hold you responsible for the funds when the check fails to clear!
715950
No it's not, but usually the banks absorb the losses resulting from fraud because it's in their interests to prevent it being generally known how insecure it is.  By shifting so much over to the internet, the banks can sack 1,000s of staff and save lots of money.  What they lose in fraud is more than worth it to them when set against what they save in staff wages.
457245
in a way it already is; think about it, you have to use your SS # for almost everything; chips have been invented that can be inserted into your skin that works the same as a CC; Dogs and cats can have ID's inserted into them w/ the same kinda chip technology.  It will just come to the point where you have to have a chip or ID to buy things.  It will happen and it will be very very very subtle.
655685
I've been online banking for years and haven't had any problems. I am careful with my password, I watch my account for unusual activity and it is a great way to stay on top of my finances on a moments notice.\n\nThe banks go to a lot of effort to protect the information and I might be naive, but so far they have been pretty trustworthy.\n\nAll banks to publish their privacy and security information online so you can read these policies if they would assist with your comfort level.
364264
Your point is? Most have that in the banks.. But as cash.. I highly doubt any.
351044
When You bring money from a location and run it thru the bank from another location. Its where They cant track it or it makes it harder
901591
Funny, my bullsh!t detector is going off.  How exactly did you drop $3,000 in cash into an ATM without an envelope?  Somehow I doubt the ATM would accept it.  \n\nNot to mention, they searched their machine and found no evidence that anyone deposited money without an envelope.\n\nMaybe you should just admit to yourself that you're lying and stop this nonsense before the District Attorney gets wind of it.
255454
Advantages: \n1. Everyone accepts it (and loves it too)\n2. In a transaction, using cash is a final deal (unlike cashing a check)\n3. In a transaction, there are no service fees using cash (unlike accepting credit cards)\n\nDisadvantages:\n1. It can be dirty\n2. You can lose it or have it stolen from you\n3. You could spend it too fast\n4. If you have much cash to carry, it can get heavy or bulky\n5. Cash can be counterfeit\n\nThere are probably a few more, but this covers most of my opinion about cash.
961764
Most banks sell Cashiers Checks instead of money orders - basically the same thing but easier to cancel, trace or replace.  Your also paying for the banks time which they consider more valuable.
200569
TO MAKE SURE THEY GET THEIRS OFF THE TOP BECAUSE THEY ARE NOT WORRIED ABOUT ANYONE ELESE.  ALTHOUGH EVER COUNTRY DOES IT, HOWEVERNI WOULD SAY THE USA HAVE THE MOST CASES OF EMBEZZLEMENT BECAUSE THEY DONT KNOW HOW TO STOP WHILE THEY ARE AHEAD, AND THE GREEDY SCAMS GETS THEM CAUGHT.
57668
This one is practical: you would be gaining money the government cant afford to pay you. You would be claiming to have money that the government doesn't have record of, and that would be a national incident. If you were to buy something with fake money,you would be stealing from the person who is paid with it. When they turn it into the bank and get arrested, it isn't very fun for them.
455330
Because you're more likely to spend a little bit of cash more frequently than a bigger amount of cash at one time. It's easier to spend a dollar here and there, than worry if larger bills will be able to be broken.
937797
Wal Mart should be able to validate the money order.\nThere are lottery scams going on where they send you an\nofficial looking money order. You get in trouble if you cash them.\nHope your question is not prompted by this sort of thing.\nIn case it was, this web site explains the scam.\nhttp://www.fsbank.com/privacy_and_security/identity_theft_and_fraud
744268
Hi David\n\nI don't think fraud would do it but I think misappropriation of funds would possibly do the trick, and a few of the juicy niceties from the Companies Act and associated legislation would not go amiss.
80645
inancial and high-tech crimes – currency counterfeiting, money laundering, intellectual property crime, payment card fraud, computer virus attacks and cyber-terrorism, for example – can affect all levels of society.\n\nCurrency counterfeiting and money laundering have the potential to destabilise national economies and threaten global security, as these activities are sometimes used by terrorists and other dangerous criminals to finance their activities or conceal their profits.\n\nIntellectual property crime is a serious financial concern for car manufacturers, luxury goods makers, media firms and drug companies. Most alarmingly, counterfeiting endangers public health, especially in developing countries, where the World Health Organization estimates more than 60 per cent of pharmaceuticals are fake.\n\n‘Spam’ is becoming more than just a nuisance for Internet users, as criminals are using it in increasingly sophisticated ways to defraud consumers, cripple computer systems and release viruses. In 2000, the so-called ‘Love Bug’ virus, which affected millions of computers around the world within hours, exposed the vulnerability of corporate and government networks to such attacks.\n\nNew technologies open up many possibilities for criminals to carry out traditional financial crimes in new ways. One notable example is ‘phishing’, whereby a criminal attempts to acquire through e-mail or instant messaging sensitive information such as passwords or credit card details by pretending to be a legitimate business representative. With this information, the criminal can commit fraud and even money laundering.
910780
With the increase in technology it is easier to make counterfeit money.  With a good printer or copier and some thicker paper you can make a copy that will look the same as real money.  It's easy to spot the fakes when you touch them or look at them closely.  It is fairly easy to make good looking counterfeits though.