Truth behind Scam Checks
Scam checks can come in many forms
There are many variations to the many scam checks floating around the world today. Sadly, the majority of these scam checks are prompted by online communications with experienced Nigerian scammers. Nigerian scammers will target those who are selling a high-ticket item or service online, send them scam checks and then get those who receive the scam checks to send them thousands of dollars in the blink of an eye.
Scam Checks and Check Fraud Alerts
The scam checks sent by the Nigerian scam artists will trigger check fraud alerts. But, it all starts by seeking people who are selling a high ticket item online, such as a car. The Nigerian scammers contact several sellers and tell them that they have a friend in the U.S that owes them money, so they’ll be receiving a check from their indebted friend, little do these sellers know that they’re about to be sent scam checks. These scam checks will be written for several thousand dollars more than the sale price.
The remainder of the money on the scam checks will be wired by the seller to a third party account. The seller receives one of the scam checks, the check clears and then the seller sends the remaining payment to the third party bank account. After a few weeks, the bank will send a check fraud alert to the seller stating that the check was fraudulent and the money that was initially deposited into the account will be withdrawn. So, the seller is left with missing merchandise, a scam check that resulted in a check fraud alert and a loss of the several thousand dollars that were wired to the third party bank account. Sucks, right?
If you’ve received an inquiry that seems similar, run the other way. Don’t wait until you receive check fraud alerts notifying you that your check was a check scam. Don’t take part in any transaction that seems fishy or which you suspect might trigger check fraud alerts.
