Check cashing fraud is rampant and has been very difficult for authorities to curtail. 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. The use of counterfeit checks are seen most often in at-home businesses, on ad sites, and elsewhere through international contact made on the Internet.
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. The scammer may use the sale of an item or service, work at home employment, or rental as their ploy.
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. In the case of international or inter-state checks, the hold period that most banks require may mean that the perpetrator may pass off a number of counterfeit checks before anyone is the wiser.
Getting the right information from those they want to defraud has become an art form to the scam artist. 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.
As mentioned one of the most common bilks today is for the working at home ads. Many times people are asked to deposit company checks for companies working internationally, take out 10% for their share, and return the rest. One is even called Wal Mart, INC., but is not associated with the Walmart stores most have come to know. A few other popular channels for contact include Careerbuilder.com, Gadgets Ltd., as well as Craigslist so trust nothing unless it has been checked out thoroughly.
There are many scams currently going on with check fraud. One of the scams regarding check cashing has occurred with people being contacted and told they have won, or come into, a large amount of money. They are told that a money order or cashier’s check will be sent for more than the amount they are to receive. They are asked to send back the difference through a wire transfer site immediately.
The con artist’s objective in a check cashing scam, is to gain vital information from a bank, that will allow them to access the bank account and withdraw all funds, while simultaneously convincing their innocent target to accept counterfeit checks in exchange for cash. You can protect yourself from check cashing fraud by being able to identify people calling you through the use of telephone look up services such as www.people-tracking-portal.com/G/5.html, so that you can know who is behind that call or check.
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. And, after waiting for justice, you will likely find that none of your money will be returned.
To learn more about reverse phone look up services that allow to track scammers, go to www.people-tracking-portal.com/H/5.html