Check Fraud refers to a category of criminal acts that involve making the unlawful use of one or more check or checking accounts in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership. Most methods that are used by violator involve taking advantage of the float (the time between the negotiation of the check and its clearance at the check-writer's bank) to draw out these funds.
Have you ever received a letter, e-mail or telephone call from a stranger that started something like:
You've won the lottery! Now, just wire us some money.
Help us transfer funds to the U.S. and you'll be rewarded.
We are an international corporation and need your assistance. All you have to do is clear checks through your account, wire us the money, and take a percentage for yourself.
You've inherited money from a relative you don't know.
You are selling something and the potential buyer sends you more than the asking price.
This is how a typical fraud scheme might start. They lure you in with a get rich quick proposal. The only one who gets rich is the person behind the scheme. If you accept checks or wires into your account and they are fraudulent you will lose not only your money but could be subject to criminal prosecution. Keep the following in mind the next time you receive that get rich quick proposal from a stranger.
Other things you can do to protect yourself:
If you would like to know more about Check Fraud or how to protect yourself against Check Fraud check out the following links:
This Web site was created by the National Consumers League (NCL) the nation's oldest nonprofit consumer organization, as a central source of information and advice about fake check scams. NCL created the site in collaboration with the Alliance for Consumer Fraud Awareness, a coalition of consumer and business organizations, government agencies, and companies that are committed to fighting fake check scams.
The Lookstoogoodtobetrue.com website was developed and is maintained by a joint federal law enforcement and industry task force. Funding for the site has been provided by the United States Postal Inspection Service and the Federal Bureau of Investigation. Key partners include the National White Collar Crime Center, Monster.com, Target and members of the Merchants Risk Council.