Getting a handle on check cashing fraud has been something that authorities have had trouble doing, as this crime has reached epidemic proportions. Now that copy machines are more available and print at a higher quality than ever, scam artists have no problem with creating a phony check and copy it. Counterfeit checks are typically used on ad sites, international Internet sales, or businesses that are based out of someone’s home for the most part.
It’s not that hard to identify check chasing fraud; for the most part, a con artist will just ask someone to deposit a check for them in their own banking account so that they can forward something through Western Union and get money that way. The scammer may use the sale of an item or service, work at home employment, or rental as their ploy.
The bank will usually not immediately identify this as a counterfeit check, and the criminal has long since spent your money before the scam is discovered. Since international funds often get held for a long while, you can deposit a number of checks and withdraw cash without anyone being the wiser until the week or so it takes to verify the check.
Getting the right information from those they want to defraud has become an art form to the scam artist. When a money transfer is sent, the sender provides a great deal of personal information, including bank account information, which these perpetrators can later use to fabricate false forms of identification, or empty a victim’s bank account.
As mentioned one of the most common bilks today is for the working at home ads. All too often, a con artist requests that the victim deposit a company check from another country, return 90% of it and keep their share. One such scam operates under the name WalMart, INC., which has no affiliation with the WalMart stores that that most of us shop at regularly. People often use Craigslist, Gadgets Ltd., and Careerbuilder.com to get access to these victims; if you use these sets, investigate a claim before you move forward.
Check fraud is the basis of a large number of scams that are now being conducted. There are many instances of people being contacted with the promise of money that they’ve either won or inherited, which is part of the scam. 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.
The con artist’s objective in a check cashing scam, is to gain vital information from a bank, that will allow them to access the bank account and withdraw all funds, while simultaneously convincing their innocent target to accept counterfeit checks in exchange for cash. You can protect yourself from check cashing fraud by being able to identify people calling you through the use of telephone look up services such as phonelookupagent.com/701/837/, so that you can know who is behind that call or check.
If you think you are in the middle of a check cashing scam, you should contact World Law Direct, but sometimes it can take a few years to work through a single case. And, after waiting for justice, you will likely find that none of your money will be returned.
Tags: check chasing fraud, check chasing scam, fraud, scams