So apparently I bought a domain that was stolen a few months back...

[Raider]

Forget it! once a wire transfer is initiated it is guaranteed funds. However, if there is incorrect information on the wire transfer, (i.e. beneficiary name or account numbers don't match) the process can be reversed.

 

[Steen]

I haven't gone so far to defeat international fraud transactions, but I got my money back from a Florida scammer solicitating fake Visa card over the phone. They took the money directly from my Citibank bank account. Gotta give credit to Citi for their quick response.

It sounds like you are talking about an ACH transfer. It is my understanding that they can be reversed weeks later.

Wires are a bit different.

 

[Rockefeller]

I paid $150K for a name. A year and a half later the sellers sued me for cybersquatting among other things and claimed the name was stolen.

I am also interested to know the outcome of this.

 

[Raider]

It sounds like you are talking about an ACH transfer. It is my understanding that they can be reversed weeks later.

Wires are a bit different.

Your correct steen

Money order
Certified check/Bank Draft
Credit card
Online Check ACH

Can all be reversed

---------------------
Wire Transfer can not.
----------------------
Cashiers check can, but ONLY if lost or stolen.

 

[DaddyHalbucks]

It happened to me once.

Using a good escrow agent, such as Moniker, can help to avoid this.

In my case, eNom simply reached into my account and snatched the name back. Of course, there was no proper process.

Memo to eNom: 40(# you!

The domain broker, a Canadian college student named Chris, quickly hid under a rock.

It's one reason why I think allowing domain "brokers" to post on boards is bad policy.

What is the sellers' responsibility in all of this? If they are leaving their passwords around or using obsolete email addresses or keeping their domains at registrars with poor security --do they bear any reponsibility?

 

[Raider]

It happened to me once.

Using a good escrow agent, such as Moniker, can help to avoid this.

That raises a good question, what would Moniker or Escrow.com do in this case? would they really refund the buyer money if they could'nt recover it from the seller?....I thought escrow only guarantees the transaction itself....am I wrong?

 

[roseau]

If you call the bank fast enough, they will recall the funds. They don't openly advertise this but most banks will help you if you are a regular customer.

But the key is to call them in a reasonable amt of time - they can only do it within a small window.

 

[Theo]

Follow the money trail, file a police report. And post the domain name as it should be "blacktagged".

 

[DaddyHalbucks]

That raises a good question, what would Moniker or Escrow.com do in this case? would they really refund the buyer money if they could'nt recover it from the seller?....I thought escrow only guarantees the transaction itself....am I wrong?

Well, for one thing, it prevents a quick flip. By adding a few extra days into the transfer process, it may be long enough to prevent some cases.

 

[Dave Zan]

I doubt it's a very simple process.

That's an understatement. Given it's an ownership dispute at the very least, it
doesn't make things any easier to resolve, more so if fraud indeed occurred.

Don't expect it to be resolved immediately. But any update so far?

 

[Kventures]

Hey guys, here is the update on this domain name:

NetSol called me today telling me that they have removed the lock on the domain. They told me that after all the investigation, they have come to the conclusion that I am the new rightful owner of the domain name, and that I am allowed doing with it as I please, including selling or transferring the domain to someone else.

I am very happy that this situation is *finally* over, and that the domain is finally mine

 

[Dave Zan]

Good to go then. Good luck and good hunting.

 

[AlienGG]

Congratz .
Apparently some dude got special interest in your domain...

 

[Raider]

Does anyone know if these scammers or hijackers get reported to the authorites?...or does Netsol just correct the problem and ignore doing anything else?

 

[AlienGG]

Does anyone know if these scammers or hijackers get reported to the authorites?...or does Netsol just correct the problem and ignore doing anything else?

No company wanna touch that dirty water. They are in the business for money, not justice.