Chase let an elderly customer wire more than $600,000 to an overseas scammer

[MineralMan]

12. Yes, that, too.

And yes, verification is duplicated to make sure there are no errors in things like account numbers.

Any time there are transfers of substantial amounts, wire transfers are the best bet. Yes, there's a fee, but there's no paper check traveling in an envelope from one place to another. I draw a line at around $20,000. Below that, I'll send a check. Over that, it goes via wire transfer.

On the other hand, when I used to travel to wholesale gem and mineral shows to buy stock for my online business, there was only one method of payment that was accepted. Benjamins. I remember the year when the new $100 bills came out. International mineral wholesale dealers were very skeptical of them. Anyhow, that's why there was armed security everywhere at those gem and mineral shows. Lots of people carrying bundles of $100 bills around.