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New Scam Uses Counterfeit Checks |
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June 2, 2004
The scam artists, usually from overseas, typically target online sellers of expensive items, such as cars. In a variation of the scam, consumers receive calls telling them they have won a large prize and telling them to remit part of a cashier's check to pay “expenses.” "Consumers selling items on line should immediately reject offers to pay with cashier's checks greater than the agreed-upon price," said Connecticut Attorney General Richard Blumenthal, whose office uncovered the scam. "These seemingly simple transactions are scams intended to relieve sellers of their cash. A buyer or business has no legal or legitimate reason to send a check larger than the sale price," Blumenthal said. "Alarm bells should go off the moment someone from overseas offers to pay with a cashier's check. Wiring cash from a cashier's check will line the scam artist's pocket while picking yours." Phony buyers sometimes offer explanations for the cashier's check being greater than the purchase price. The purchaser may claim the check was mistakenly made out for a greater amount, is a refund from an unrelated transaction, or includes transportation or import/export fees that need to be refunded. The scam artists typically ask the seller to wire money to a foreign country via Western Union. In another scenario, the swindler claims that he has to pull out of the deal because of a tragic accident or other unforeseen circumstance and asks for a refund of the cashier's check. He may even offer to let the consumer “keep” a small amount of the payment as compensation for the inconvenience. Steps consumers can take to avoid such scams include: Read all alerts related to Internet sales. If you are the victim of a counterfeit check cashing scam, submit your complaint to FDIC's Special Activities Section, 550 17th St., NW, Room F-4040, Washington, D.C. 20429, or send your information electronically to alert@fdic.gov. |
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