Currency exchange fraud
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Today the action of exchanging currency has become a habit for many people, especially in view of the current financial crisis. No one wants to lose his/her savings and tries to transmit money to more stable currency. But be careful! Exchanging money you may lose but not win. You may find yourself defrauded. Attention! We are not even discussing people with a thick stack of money who offer you a better exchange rate. Pass them by! However you should be worried about the fact that currency exchange offices try to dupe you too. In order to make you ready for everything we will tell you about the most popular ways of currency exchange fraud.
The first way
You hardly go to the first exchange office that caught your eye; you are always trying to find a better exchange rate. It is the first moment where you can miss the mark. For example, a big bright board with the rouble-to-dollar rate of 30,5 has caught your eye. You exchange money but get less than you expect. Why? It turns out the operator has lost “noul” before “five” and that the true rate is 30,05. The difference is only 45 kopecks. It seems to be not essential. But if you exchange a big sum of money this difference will play an important role. To get money back will be not easy but the cashier may apologize to you for the alleged lost “noul”. These excuses will hardly help you, so be careful!
The second way
You are looking for a better rate; you find it, exchange money but get less again. Why? It turns out that this rate is “for a sum above 5000 US dollars”. And, of course, little letters under big and bright numbers informed you about it. If you look more attentively you’ll find your rate, too. It can be a small paper hung out near the exchange office window. It is your fault; you were inattentive. So keep it in mind, too!
The third way
You can be defrauded again because of your inattention. Although you have checked everything — there was no lapse or special rate for big sums — you have got less money than expected. What`s the matter? The matter is a fee that an exchange office takes for each operation. Thus, before exchanging money you should learn if any fee is taken.
The forth way
From “fair” ways move to “unfair”. If “fair” ways were based on your inattention “unfair” ways are considered to be a real fraud. A cashier acts like a magic. His magic wand is a tray where he puts money. Firstly, a cashier counts the necessary sum of money so that you won`t wish to check it. Secondly, he puts money into the tray in such a way that one or two bills may stick to the wall that is closer to the cashier. You take money and go away. You are lucky if you discover a shortage at once. In this case the cashier will advise you to check the tray and missing bill will be immediately found. But if you rely on the cashier and doesn`t check the sum it will be practically impossible to prove anything later so that you will hardly get your money back. Trust but verify!
The fifth way
You are exchanging money and suddenly a cashier says to you that your bills are counterfeit. And according to the law of the Russian Federation cashiers have the right to confiscate suspicious bills or call the police if it is a real counterfeit. They often use this right but only to cheat you. Cashiers suspect each bill to be counterfeit and you have no wish to meet the police so you prefer to give money back. Thus, cheats can earn a pretty penny.
It is also possible that a bill will be not “counterfeit” but “greasy”. Then a cashier may assure you that he is the only person who is ready to exchange your money but in this case the exchange rate will be lower what is unfavorable for you.
Thus, in order not to be defrauded follow the simple rules. Before exchanging money specify how much money you will get. You should ask if any fee is taken. After exchanging money don`t go aside and check the whole sum in front of the currency exchange office`s window. If you go aside and then discover shortage a cashier has the right to reject your claims. You may also complain about a negligent work. Every currency exchange office should have phone numbers either of its bank or regional department of the Central Bank.
