Posts Tagged ‘check fraud’

Protect yourself with help from FINRA*

You Can Protect Yourself from Fake Check Scams

  • Mystery Shopping Scam

  • Modeling Scam

  • Unexpected Check Scam

Here’s How (from FINRA’s investor newsletter)

  • Know the hallmarks of fraud. Fake check scams typically have a number of red flags, such as:
    • Typos: Watch out for online postings or emails that are riddled with typos and poor grammar.
    • Mismatched names: Compare the name of the person or company posting the opportunity with the name on the check you receive—and beware if they don’t match.
    • Pressure to act quickly: Be aware that it can take 10 days or even more for your bank to determine that a check is counterfeit. Don’t wire or transfer funds until you have verified with your bank that the check has cleared—even if the bank allows you to withdraw the money sooner.

If you receive a suspicious check, be sure to contact one or more of the following organizations right away: your local police, the Internet Crime Complaint Center (a partnership between the FBI and the National White Collar Crime Center), or the U.S. Postal Inspections Service (if the check arrived by U.S. mail).

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