Fake Check Scam Overview
The "Fake Check" scam is a type of fraud where the scammer sends you a fake check for a service or product you've provided. They then ask you to deposit the check and send them the difference between the amount of the check and the cost of the service or product. Once you've sent them the money, you'll realize that the check was fake and you'll be out of pocket.
There are several different variations of the fake check scam and new scams are always arising - surprisingly enough scammers are relatively creative individuals. But, the scammers always have a good story to explain why you can’t keep all the money.
How Fake Check Scams Operate
The Setup
Contact: The scammer contacts the victim through various online platforms, such as social media, email, or online marketplaces.
Legitimate-Seeming Offer: They present a tempting opportunity, like a job offer, a purchase, or a rental agreement.
Overpayment: The scammer sends a check for an amount greater than the agreed-upon value.
The Scam
Deposit: The victim deposits the check into their bank account, assuming it is legitimate.
Immediate Request: The scammer quickly asks the victim to wire or send back the "overpayment" amount, often citing various reasons like taxes, fees, or shipping costs.
Disappearing Act: Once the victim sends the money, the scammer disappears, and the deposited check bounces.
Why The Scam Works
Check Processing Time: Banks typically take several days to clear checks. This delay gives scammers time to pressure victims into sending money.
Sense of Urgency: Scammers often create a sense of urgency to prevent victims from verifying the check's authenticity.
Trust and Greed: The promise of easy money or a good deal can cloud judgment, making people more susceptible to the scam.
What to Do if You're Targeted
Ignore and Block: If you recognize any of the red-flags mentioned above, ignore any of the offers and block the scammer immediately.
Report: Report the user if the platform you're using allows for it.
Preventing The Scam
Reject Checks: The most immediate thing you can do is make it very clear you will not accept a check as a valid form of payment.
Overpayment: Never send money based on an overpayment.
Use Secure Payments: Never let someone persuade you into using an unfamiliar payment process, or veer off the platform you normally utilize.
You can read even more about fake check scams in this article written by the Federal Trade Commission.
