Financial Fraud
Fake Check Scams
You receive a realistic-looking check for an amount larger than expected and are instructed to deposit it and wire back the "overpayment".
How It Works
- The scam often starts with a fake job offer (e.g., mystery shopper), an online sale, or a prize winning.
- You receive a check that appears to be legitimate.
- The amount is for more than the agreed-upon price. The scammer asks you to deposit the check and send the excess funds back to them or a third party.
- You send the money, but days or weeks later, your bank discovers the original check was fraudulent, and you are held responsible for the full amount.
Red Flags
- Receiving a check for more than the expected amount.
- Being asked to wire money back or send gift cards after depositing a check.
- Pressure to act quickly before the check has had time to officially clear with the bank.
- The offer seems unusually generous or easy.
Prevention Tips
- Never accept a check for more than the selling price.
- Do not wire money to strangers. Treat wired funds like cash.
- Wait for a check to officially clear with your bank before considering the funds available, which can take weeks.
- If the offer involves depositing a check and sending money back, it is a scam.
Example Scenario
"You sell a bike for $300 online. The buyer sends you a check for $1,800 and asks you to deposit it, keep $400 for your trouble, and wire the remaining $1,400 to their "shipping agent"."