How Do You Avoid Check Overpayment Scams?
If you are planning to sell an item over an online auction or in your local newspaper beware of the latest check overpayment scams. The scam begins with someone responding to your ad. This person wants to buy the item and use either a cashier’s check, personal or corporate check to pay. Seems legitimate but then at the last moment, the person writes the check for more than what you are selling the item for, and asks that you wire the difference back once you have deposited their check. You go to the bank and deposit the check. Everything seems fine so you wire the funds back to the person. A few days later, the check you deposited bounces but you are still liable for the entire amount. Basically, the check was counterfeit and not even the bank teller could tell. Following these steps will help you avoid becoming a victim to these clever scams. If you are selling something (or purchasing for that matter) be aware of the person you are dealing with for the transaction. The Federal Trade
