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Fake Check Scams


Fake check scams are something all of our customers should be aware of. There are people out there who want to take advantage of unsuspecting people right here in Central Texas.

The Federal Trade Commission recently published an article on this very subject. We wanted to share it with our customers.

Fake checks drive many types of scams – like those involving phony prize wins, fake jobs, mystery shoppers, online classified ad sales, and others. 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.

The Federal Trade Commission receives tens of thousands of reports each year about fake checks. Over the last three years, the number of complaints has steadily increased, and so have the dollars lost.

The FTC’s new infographic, developed with the American Bankers Association Foundation, offers some tip-offs to rip-offs and what to do if you get a check from someone you don’t know.

For more on fake check scams, check out this article from the Better Business Bureau.