Once saw a spate of this, but using Bitcoin and websites like local Bitcoin.
Fraudsters would setup a Cash -> Bitcoin transaction on local Bitcoin. Scam someone else into fulfilling the payment, then run off with the Bitcoin.
Then the victim looses their money, the Bitcoin seller is now in possession of effectively stolen funds. You don’t want to be the seller in this equation because from the banks perspective you look like the fraudster, and it’s likely you have bank accounts closed.
Fraudsters would setup a Cash -> Bitcoin transaction on local Bitcoin. Scam someone else into fulfilling the payment, then run off with the Bitcoin.
Then the victim looses their money, the Bitcoin seller is now in possession of effectively stolen funds. You don’t want to be the seller in this equation because from the banks perspective you look like the fraudster, and it’s likely you have bank accounts closed.