Fake checks drive many types of scams – like those involving phony prize wins, fake jobs, mystery shoppers, online classified ad sales, and others. In a fake check scam, a person you don’t know asks you to deposit a check – sometimes for several thousand dollars and usually for more than what you are owed – and wire some of the money back to that person. The scammers always have a good story to explain the overpayment – they’re stuck out of the country, they need you to cover taxes or fees, you need to buy supplies, or something else. But by the time your bank discovers you’ve deposited a bad check, the scammer already has the money you sent, and you’re stuck paying the rest of the check back to the bank.
The Federal Trade Commission receives tens of thousands of reports each year about fake checks. Over the last three years, the number of complaints has steadily increased, and so have the dollars lost.
The FTC’s new infographic, developed with the American Bankers Association Foundation, offers some tip-offs to rip-offs and what to do if you get a check from someone you don’t know.
Please share this information with others. Victims may be embarrassed to talk about their experiences, but you can help. A simple phone call, email or text, saying “Look what I just found” and sharing this information may make a difference in someone else’s life.
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In reply to How long can the bank go back by John
It’s best not to rely on money from a cashiers, business or personal check, or money order until the bank confirms that the check has cleared. It can take weeks for a bank to discover and untangle a forged check. Until the bank confirms that the funds from the check have been deposited into your account, you are responsible for any funds you withdraw against that check.
In reply to How long can the bank go back by John
In reply to How long can the bank go back by John
In reply to If someone mails you a check by Amanda
In reply to If someone mails you a check by Amanda
In reply to If someone mails you a check by Amanda
In reply to I just received a letter from by Donald
In reply to I just received a letter from by Donald
In reply to If someone mails you a check by Amanda
In reply to This infographic is great by LarryP
In reply to thanks for the tip I would by rikoshea
In reply to I am selling a motorcycle on by Randy
In reply to Did you get this resolved. i by martian645
In reply to I am selling a motorcycle on by Randy
In reply to Awesome information. Thank by hipthe
In reply to I HAVE A FOLDER IN MY EMAIL. by SCAM TO DAY GO…
You can forward unwanted or deceptive messages to the FTC at spam@uce.gov.
In reply to I HAVE A FOLDER IN MY EMAIL. by SCAM TO DAY GO…
In reply to Be careful too of Money by lynki
In reply to About 2 years ago, 4 unknown by M Aguiong
In reply to I had same thing happen and by Loyal
In reply to I had same thing happen and by Loyal
In reply to Omg I cannot believe your by Sumatym
In reply to I was alerted to my fake by Researcher2
In reply to It is getting even more high by JohnK
In reply to Can you please tell us who by DonK
In reply to Can you please tell us who by DonK
In reply to Can you please tell us who by DonK
In reply to Can you please tell us who by DonK
In reply to I was alerted to my fake by Researcher2
In reply to I was alerted to my fake by Researcher2
In reply to What about when an employees by glenns
You can report identity theft to www.IdentityTheft.gov and create a personal recovery plan. You can get letters and forms you need to repair problems caused by identity theft.
In reply to great info..thanks for making by gg
In reply to Go along with there bull and by Old Fellow
In reply to What if they send you 2 by Heidy
In reply to What if they send you 2 by Heidy
You are responsible for the checks you deposit. If you deposit a bad check, and take money out right away, but the bank later finds out that the check isn't good, you will have to repay the bank.
Under federal law, the bank must give you some of the money from a check you deposit right away. But that doesn't prove that the check is legitimate. It can take weeks for a bank to find out that a check is no good. You are taking a risk if you deposit a check from someone you don't know and give them cash now. You could end up owing the bank money later.
In reply to You are responsible for the by FTC Staff
Pagination