Tips on How to Avoid the Fake Check Scam, Provided by World Progress Report with Host Joan Lunden
Educational content provides ways to avoid being caught in one of America's most common scams.
BOCA RATON, FL, September 22, 2010
With the advent of the Internet, and its increased popularity, consumers are now able to carry on business that could only have been dreamt about thirty years ago. Companies can sell their entire line of products solely through their website, and traders can show and detail their merchandise so others can bid on or directly purchase the available goods. While this has helped expedite the purchasing process, it has also led to a rise in fake check scams.Typically a fake check scammer will make an offer on a specific item that you have either put up for bidding or for sale. They might have seen an ad you put in the paper, or online... regardless, they will attempt to pay for said item with a check, only to ask you to return a portion of it to a bank account which they have set up for the transaction. In almost every case, this will be a scam, because while you will deposit the check and transfer the funds, the check will eventually be deemed fraudulent and removed from your account, only after you've given the money back.
In order to prevent being taken advantage of, make sure that when depositing a check from an unknown source, that the bank listed on the check is legitimate. While these checks may look real, they still might be fraudulent, so also be wary of depositing the funds, because you will be responsible for any check that is deposited in your account. Make sure that the person giving you the check hasn't overpaid, and hasn't asked for you to return any of the funds, because this is the primary red flag for this type of scam.
World Progress Report is providing content for Public Television with several partners to help educate consumers about ways to help monetary security and offer sound advice for those who are wary of online business.
*World Progress Report and its programming are not affiliated with PBS. Our programs are independently produced and distributed to Public Television affiliate stations nationwide.
About World Progress Report:
World Progress Report is a compelling series distributed to Public Television nationwide. Hosted by Joan Lunden, each program is specifically designed to educate the public on the latest issues impacting our society today. For more information, please contact us at (772) 237-8518 or visit us on the web at www.worldprogressreport.com.