|
|
|
 |
|
If someone you don’t know wants to pay you by
check but wants you to wire some of the money
back, beware! It’s a scam that could cost you
thousands of dollars. Here are some tips
for recognizing and avoiding fake check scams. |
|
|
 |
ˇ There are many variations of the fake check scam. It could start with
someone offering to buy something you
advertised, pay you to do work at home, give you
an “advance” on a sweepstakes you’ve supposedly
won, or pay the first installment on the
millions that you’ll receive for agreeing to
have money in a foreign country transferred to
your bank account for safekeeping. Whatever the
pitch, the person may sound quite believable.
ˇ Fake check scammers hunt for victims. They
scan newspaper and online advertisements for
people listing items for sale, and check
postings on online job sites from people seeking
employment. They place their own ads with phone
numbers or email addresses for people to contact
them. And they call or send emails or faxes to
people randomly, knowing that some will take the
bait.
ˇ They often claim to be in another country. The
scammers say it’s too difficult and complicated
to send you the money directly from their
country, so they’ll arrange for someone in the
U.S. to send you a check.
ˇ They tell you to wire money to them after
you’ve deposited the check. If you’re selling
something, they say they’ll pay you by having
someone in the U.S. who owes them money send you
a check. It will be for more than the sale
price; you deposit the check, keep what you’re
owed, and wire the rest to them. If it’s part of
a work-at-home scheme, they may claim that
you’ll be processing checks from their
“clients.” You deposit the checks and then wire
them the money minus your “pay.” Or they may
send you a check for more than your pay “by
mistake” and ask you to wire them the excess. In
the sweepstakes and foreign money offer
variations of the scam, they tell you to wire
them money for taxes, customs, bonding,
processing, legal fees, or other expenses that
must be paid before you can get the rest of the
money.
ˇ The checks are fake but they look real. In
fact, they look so real that even bank tellers
may be fooled. Some are phony cashiers checks,
others look like they’re from legitimate
business accounts. The companies whose names
appear may be real, but someone has dummied up
the checks without their knowledge.
ˇ You don’t have to wait long to use the money,
but that doesn’t mean the check is good. Under
federal law, banks have to make the funds you
deposit available quickly – usually within one
to five days, depending on the type of check.
But just because you can withdraw the money
doesn’t mean the check is good, even if it’s a
cashier’s check. It can take weeks for the
forgery to be discovered and the check to
bounce.
ˇ You are responsible for the checks you
deposit. That’s because you’re in the best
position to determine the risk – you’re the one
dealing directly with the person who is
arranging for the check to be sent to you. When
a check bounces, the bank deducts the amount
that was originally credited to your account. If
there isn’t enough to cover it, the bank may be
able to take money from other accounts you have
at that institution, or sue you to recover the
funds. In some cases, law enforcement
authorities could bring charges against the
victims because it may look like they were
involved in the scam and knew the check was
counterfeit.
ˇ There is no legitimate reason for someone who
is giving you money to ask you to wire money
back. If a stranger wants to pay you for
something, insist on a cashiers check for the
exact amount, preferably from a local bank or a
bank that has a branch in your area.
ˇ Don’t deposit it – report it! Report fake
check scams to the National Fraud Information
Center/Internet Fraud Watch, a service of the
nonprofit National Consumers League, at
www.fraud.org
or (800) 876-7060. That information will
be transmitted to the appropriate law
enforcement agencies
|
|
|
|
|
