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Postal officials urge consumers to learn danger signs of fraud
By Betty Lin-Fisher
Beacon Journal business writer
Published on Sunday, Oct 14, 2007
See that guy on the left in the photo?
He's a foreign lottery official who wants you to know that you've won huge sums of money. But before you get your winnings, you'll need to deposit the check he sends into your bank account and send some of it back.
But the check will bounce, and you will lose money.
That guy in the middle wants you to fire your boss and work at home as a payment processor.
He'll send you checks that you can deposit in your bank account, keep 10 percent and send 90 percent back.
But the checks will bounce, and you will lose money.
And the lady on the right wants to be your roommate.
So she sends you a big check, but something unexpectedly happens and she needs you to send some of the money back.
But her check will bounce after you send the money, and you lose.
Many people will look at these and say: ''Of course I wouldn't fall for this.''
But people fall for them all the time.
Smart people.
The scams are meant to tug at your heartstrings, or seem like they're the answer to your financial problems.
But you know how this story ends. These people are swindlers, and the consumer is left owing the bank the money sent from his account after the checks come back as fraudulent.
Regular readers of this column know I've written a lot about these scams. But unfortunately, I could write about this every day and others could scream it from rooftops, but people still would get swindled.
And once you've become a victim, it's almost impossible to catch the thief or more importantly, get your money back.
That's why a new ad campaign by the Alliance for Consumer Fraud Awareness, spearheaded by the U.S. Postal Inspection Service (the law enforcement arm), is hoping to educate people and prevent them from falling victim to the scams.
An educational campaign with television and print ads has been launched with some of the characters you see in the photos above. There's even one where there's a smarmy-looking guy who is supposed to be a ''damsel in distress'' via e-mail.
There's also a Web site,http://www.fakechecks.org which is full of information and videos to teach you more about the scams.
The ads remind me of one credit card company's ads about identity theft victims especially the one showing two older ladies who have the voices of the men who stole their identities.
Hopefully the clever ads will get people's attention.
But the campaign also includes a strong educational push. The Ohio Attorney General's office has paid to print a handout that will be available from tellers at participating banks. When tellers notice that a customer is depositing a check that's unusually high or perhaps out of sync with normal activity, the teller may ask questions and offer the handout that describes the fake-check scams.
While scam artists are increasingly telling their targets to avoid personal contact when depositing the check (they'll often be told to deposit it in an ATM), most consumers still need to go to a bank teller to withdraw the cash to wire it somewhere else, said Terrence Sullivan, a U.S. postal inspector in Cleveland. So that's why the campaign is trying to engage tellers and even cashiers at Wal-Mart who may come into contact with consumers trying to cash checks or wire money.
Banks can't stop customers from depositing the checks, but this front line of defense might make them think twice.
Danielle Jamiot, fraud initiatives officer for Fifth Third Bank, said bank officials are already aware of some fake-check scams the education push has stopped when tellers talked to consumers.
The checks look legitimate, said Ohio Attorney General Marc Dann.
''It's become a real problem. I got one in the mail over the weekend. I can easily see why people become confused about it,'' said Dann.
Trying to track down a fraud, especially if that person is overseas, is difficult, said Dann.
''It's obviously better to prevent this than try to chase the horse after it's left the barn,'' he said.
Several banks and credit unions in our area have signed up for the educational push, and officials hope more will participate, including check-cashing stores.
Sullivan said fake-check scams often have these red flags:
You'll be solicited to accept a check, money order or traveler's check and deposit it at your bank or cash it at a cash-checking facility.
The sender may ask you to wire some funds from that check either back to the party or to a third party.
The checks will come back returned as fraudulent and you'll be left repaying the bank or be held responsible by authorities.
If it sounds too good to be true, it usually is. No one who wants to give you money should ask you to send them money. And if someone wants to buy something from you, they should be happy to send you the exact amount you're owed.
Sullivan said you should also be careful who you do business with. If you're selling something, perhaps you can try to use a service like PayPal instead of money orders or checks.
Also, remember: Just because a deposited check shows up as ''available'' in your account, doesn't mean the check is good or has cleared. Federal law requires consumers to have quick access to deposited checks, but if it's found to be counterfeit, the bank can come after you for the money.
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@ thebeaconjournal.com.
See that guy on the left in the photo?
Get the full article here.
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