Warning Signs
The money order or check scam occurs when you receive a check with instructions for you to send funds back to the sender or someone else. An overpayment counterfeit money order or check is sent to you with instructions for you to send or wire back the overpayment amount after you have deposited the counterfeit money order or check. In some cases, you may be asked to let them know once the deposit has been made. Fraudsters may also deposit checks into your account after asking for your online banking information in regard to proceeds for a loan.
Once you have deposited the counterfeit money order or check and sent the overpayment amount, you will later be informed that the money order or check has bounced because it is fake and you are out of the overpayment amount you sent.
WHAT SHOULD YOU DO?
- Be cautious of instructions that ask you to send money back to the sender or someone else
- Be cautious of checks you receive unexpectedly
- Do not provide anyone with your Online Banking information
HOW TO RECOGNIZE A SCAM
- A proposition comes from out of the blue and from someone you do not know
- Often the scheme revolves around a scenario involving a hardship situation, a secret shopper, an online ad or a job posting
- You are sent a money order or cashier’s check for more than the amount that you are selling your merchandise or product
- You are instructed to deposit a money order or check and send or wire back the overpayment
- The buyer does not show much interest in checking out the merchandise or product
- You are requested to share sensitive banking information or open a new bank account
- It sounds too good to be true
