Press Room

FOR IMMEDIATE RELEASE:
October 22, 2007

Avoid Scams Involving Fake Checks and Money Orders

There’s been explosive growth in counterfeit checks, cashier’s checks and money orders in the last few years, due in part to the growth of the Internet for transactions among strangers. But what’s especially troubling is that people are losing significant sums in these scams – often thousands of dollars. Sadly, the account holder will most likely be held responsible in these situations. Why? Because often the fraudulent transactions cannot be canceled or reversed. Key reminders: If you deposit a check from a stranger, discuss the situation with your banker before spending that money or handing over anything of value. Walk away from any deal if you get a check for more than the amount due and you’re instructed to return the difference. Recognize other warning signs of a check scam: The reasons for receiving a check are suspicious. You’re asked to send money outside of the United States. You’re pressed to send money right away. You’re warned to not discuss the deal. You are receiving a fee for your help. You are instructed to cash the check and wire funds back. For more information: Visit the “Looks Too Good to be True” web site (http://www.lookstoogoodtobetrue.com), a joint effort of federal law enforcement agencies and corporate partners that is designed to educate consumers on how to avoid Internet frauds.