The American Bankers Association Foundation and the Federal Trade Commission recently released an infographic to help you recognize and understand the growing trend of fake check scams.
This form of check fraud often involves a scammer sending a bad check to a victim and then asking for some of the funds to be returned. After the money is sent back, the scammer's original check bounces. Nobody likes a bounced check, especially when you've had to front some cash and end up losing it all.
“Chances are you’ve been the target of a fake check scam,” said ABA Foundation Executive Director Corey Carlisle, noting that fake checks might be used in a prize scam or an online purchase. “The fraudsters are sophisticated and convincing, and while their scams may vary, there’s one constant: check fraud.”
At FFNWB, we have caught many of these checks which have come in from customers and helped to prevent such a scam. Be sure to be aware of the “too good to be true” tactics taken when you receive an unexpected check in the mail. Here is some more information about fake check scams from the Federal Trade Commission. Click Here