Secret Shopper Scam
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Betsy Summerville,
Senior Vice President,
Retail Banking |
Dear Salisbury Banker:
My nephew is out of work and desperately searching for a job. Recently, he got an e-mail solicitation from a company offering to hire him as a secret shopper to evaluate a money transfer service. The company mailed him a check, told him to deposit it in his bank account, then withdraw the amount in cash. He was then to take the cash to the money transfer service, and send it to a person in a Canadian city. He completed a checklist about the experience and emailed it to the company. You can guess what happened! The check was bad, and now my nephew is out the money he deposited to his account, the company is nowhere to be found, and the bank wants its money back. Is this a common scam?
TROUBLED AUNT
DEAR TROUBLED:
Unfortunately, scams involving counterfeit or fake checks are common and growing - including foreign lottery, check overpayment, Internet auction, and online work scams. One of the most common scams is check overpayment, where a scammer replies to a classified ad or auction posting, offers to pay for the item with a check, then gives a reason for writing the check for more than the purchase price. The seller is told to deposit the check and wire back the difference. Of course, the scammer's check bounces, and the seller is out the entire amount.
You can protect yourself from these scams by ending ANY transaction immediately if you're asked to wire back funds after depositing a check. Legitimate businesses don't operate this way - and you have little recourse if there's a problem with a wire transaction.
To learn more about protecting yourself from scams like this, speak with one of our branch representatives.
Betsy Summerville, Senior Vice President, Retail Banking
Do you have a question concerning fraudulent checks or scams?
Please contact me at banker@salisburybank.com.
This information is provided for informational purposes only and does not constitute tax or legal advice. Always refer to your tax advisor for guidance for your particular situation. Opinions expressed herein are subject to change without notice. Information has been obtained from sources believed to be reliable, but its accuracy and interpretation are not guaranteed