How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

I was understanding COT meaning, I try to do 2 wire

Customer Question

Hi, I was understanding COT meaning
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I try to do 2 wire transfer, and the end of the electronic transaction show this
JA: Is there anything else important you think the Accountant should know?
Customer: I dont understand
Submitted: 9 months ago.
Category: Tax
Expert:  Lane replied 9 months ago.

Hi. My name's Lane. I can help you here.


You are very likely being scammed.


The term COT, C.O.T., or Cost of Transfer is NOT a real code.


Scammers use this terminology to make you thing you are dealing with a legitimate service.


Expert:  Lane replied 9 months ago.

Are you getting something like this"


"To deal with the cost on transfer, you are to effect the payment via western union money transfer first thing tomorrow morning with the information below as payment for c.o.t code is been made via western union in the name of the head of c.o.t code department Mrs. Juliet Roy.


Name: Mrs. Juliet Roy
Address for the payment with the name above is : 10-12 High ton Street, Merseyside,PR90WYLondon, UK.
Exact Amount to be sent: £850 British Pounds

Immediately after you have make your payment according to your choice of delivery, do sent to us the payment details and slip for confirmation of your C.O.T CODE payment here in our office."

Customer: replied 9 months ago.
Ok, Why they are following the game?
Expert:  Lane replied 9 months ago.

Here are a few more:


Fraudsters take advanced fee scams to the next level - PhishLabs

Dec 16, 2014 - PhishLabs has discovered an advanced fee scam with a twist - an elaborate ... The user is asked for a required “Cost of Transfer Code” which ...


Sep 6, 2008 - Read more about such scams here or in our 419 FAQ. ... "cost of transfer" (this will costyou money - be careful with upfront payments to anyone ...

I fell for the scam, Constantina from Cyprus : Scams

Feb 19, 2015 - Hi everyone, my purpose here is to publicize a scam so others won't fall for it. Like anyone who has fallen for a scam, I would say it is pretty...

[PDF]COT Security Alert – Seasonal Scam Awareness

COT Security Alert – Seasonal Scam Awareness. Phishing scams and malware campaigns that take advantage of the winter holidays and shopping season are ...

[PDF]COT Security Alert – Scam Phone Calls - Kentucky Commonwealth ...

COT Security Alert – Scam Phone Calls. A phone scam has been reported recently in our environment where the caller claims to be from. Microsoft and is calling ...

Expert:  Lane replied 9 months ago.

Anytime you are being asked to SEND THEM money in ORDER to GET money, this should raise concern.


Not sure about "the game," but if you are being asked to wire, western union, or otherwise send money ... your "alarms" should go off....


They will also use terms such a transfer tax, and other official sounding terms to make things sound legitimate.