Getting a handle on check cashing fraud has been something that authorities have had trouble doing, as this crime has reached epidemic proportions. With the advancement of copy machines it is easy for a dishonest person to alter or create a check look-alike and then make copies that looks authentic. 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.
When a vendor, or other unsuspecting individual, is given a check that exceeds the amount of a purchase, and they are asked to return the excess amount in cash, through a money wiring service such as Western Union, that is a clear indication that this is a circumstance of check cashing fraud. This can be advertised as a work at home job, rental, or the sale of an item or service.
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.
Those who defraud others using bank accounts are very creative when it comes to accessing information. Using a money transfer site requires you to enter personal information which can be captured and used for the purposes of making all kinds of counterfeit checks and identification for the purposes of emptying the victim’s account.
Working at home advertisements are the most frequently used scam pretenses presented on the Internet today. 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 is even called WalMart, INC., but is not associated with the Walmart stores most have come to know. 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. All they need to do is return the excess cash through a money transfer, right away.
All this does is give the scammer the personal information that you provide on your bank info through the wire transfer service, this allowing them to empty your accounts; otherwise, they may just be ripping you off for the money you take out of your account. That’s why it’s important to use telephone look up services such as phoneprivatelookup.com/925/469/ when they contact you by phone in order to be able to verify if the caller or check writer is really who he or she claims.
There is an agency known as World Law Direct, who handle cases of international check cashing fraud, so if you fear that you may be a victim of this crime, you may contact this unit, but their response time may be up to several years. When all is said and done, you may never see that money again.