Fake Check Scam: Money 2.0 Reviews Ways To Stay Ahead of Scammers
Table of Contents
What is a Fake Check Scam?
How to know if you are Scammed?
How Fake Check Scammers work?
How to avoid getting scamme d?
What is a Fake Check Scam?
● In a fake check scam, a fraudster tells you to deposit a thousand dollars worth of check, usually more than you owe, and transfer it to someone you probably don’t know.
● As pointed out at finance events, the scammer always comes up with a good reason for why you need to deposit the check and cannot keep all the money.
● They may tell you that you must pay taxes or fees, that you must purchase supplies, or that you must do something else. This way, they persuade you to send them a check.
How to know if you are Scammed?
When someone sends you a check and asks for money in exchange
You are getting Scammed!
How Fake Check Scammers work?
● ‘Mystery shopping’ is the primary tool of fake check fraudsters. They begin by hiring innocent people into the chain while asking them to evaluate a gift card or money order retailer. Then they provide the shoppers with a check instructing them to deposit it in their bank account and wire it to someone else; by the time they do it, the scammer disappears after withdrawing all the money.
● Scammers pretend to send extra money via a check and ask you to ‘refund the balance.’ ● They even hire someone as their ‘personal assistant’ and ask them to buy gift cards for new clients, and once they get what they require- the gift card pin number, they disappear, leaving the personal assistant with nothing but dismay.
How to avoid getting scammed?
● DO NOT fall into the fraud where you are asked to purchase, send gift cards, money orders, or wire money to a total stranger or to someone you are not very much familiar with using a check. NEVER pay to get something that you earned. Suppose you are getting an offer where you can win a prize by paying some amount, toss that offer right away. If you are getting a check for more than the selling price of any particular product or service, DO NOT accept it.
THANK YOU! This Presentation was Prepared by,
VINAYAK JOSHI, MANAGER, MONEY 2.0 CONFERENCE, www.money2conf.com