Cash Checking Fraud Scam Information
Check cashing fraud is rampant and has been very difficult for authorities to curtail. With the advancement of copy machines it is easy for a dishonest person to alter or create a check look-alike and then make copies that looks authentic. The use of counterfeit checks are seen most often in at-home businesses, on ad sites, and elsewhere through international contact made on the Internet.
Identification of a check cashing fraud is fairly easy in that one will be asked to deposit a check through their banking account for a larger amount that required then to forward the extra cash via Western Union or some other money transfer site. This can be advertised as a work at home job, rental, or the sale of an item or service.
Generally, until the check is deposited and the bank dishonors it as counterfeit there is no way to know it is fraudulent and by then the person is usually long gone. Due to the hold on inter-state and international funds, several checks can be deposited and cash withdrawn to be forwarded to the sender before one finds that they have been duped.
Those who defraud others using bank accounts are very creative when it comes to accessing information. Once money is sent through a money transfer site, much personal information is shared which can be utilized to create counterfeit forms of identification as well as banking information which can be used to clean out an account.
As mentioned one of the most common bilks today is for the working at home ads. Many times people are asked to deposit company checks for companies working internationally, take out 10% for their share, and return the rest. One is even called WalMart, INC., but is not associated with the Walmart stores most have come to know. A few other popular channels for contact include Careerbuilder.com, Gadgets Ltd., as well as Craiglist so trust nothing unless it has been checked out thoroughly.
There are many scams currently going on with check fraud. One of the scams regarding check cashing has occurred with people being contacted and told they have won, or come into, a large amount of money. They are told that a money order or cashier’s check will be sent for more than the amount they are to receive. They are asked to send back the difference through a wire transfer site immediately.
In check cashing scams what is happening is the scam artists are attempting to get the needed information from a bank in order to clean out the account and, in the meantime, talk the mark into providing cash in exchange for counterfeit checks. That’s why it’s important to use telephone look up services such as http://411telephonedirectory.com/Indiana when they contact you by phone in order to be able to verify if the caller or check writer is really who he or she claims.
For those who feel they are caught in an international check cashing scam, there is a unit called the World Law Direct, but they are very slow to process cases which may take many years. Additionally, in the end it is unlikely any funds will be recovered.
Last modified January 27, 2010Author 2658 > has blogged 37 times
