Fake Check Schemes Won’t Happen to Me…Right?

Posted by Adom Greenland on Nov 12, 2018 1:53:39 PM

When we read about fake check schemes, it’s easy to think this will never happen to me or that I can’t fall for anything so ridiculous…but the truth of the matter is fake check fraud is a huge problem. Millions of fake checks worth billions of dollars circulate every year. 

Check out this infographic below! It explains fake check scams really well and shows how we could all easily fall for these scams that are happening everyday.

https://www.aba.com/Tools/Infographics/PublishingImages/infographic-fake-check-scams.jpg 

Here’s the catch – scammers create many types of schemes and always come with a good story for which might be easy to believe!

  • Phony prize wins
  • Need to cover taxes or fees
  • Fake jobs
  • Mystery shoppers
  • Online classified ad sales
  • Online overpayment
  • And many others

download (7)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.

Don’t let this happen to you!

When in doubt call or visit ChoiceOne Bank immediately!

Customer Service Center: 616.887.7366

Find a convenient location www.choiceone.com.