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:
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 (email@example.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 (firstname.lastname@example.org), 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.