Don't Be Victimized by Fraudulent Cashier's Checks!Con artists have lots of tricks to seperate you from your hard earned money or to lure you into a scam. The latest trick involves the use of fraudulent cashier's checks. But you can recognize the common signs that can indicate whether a cashier's check is genuine or not.
It's for more than an item's purchase price. Fraudsters often invent various reasons to explain why they are spending more than the purchase amount.
It's from a party other than the buyer or on behalf of someone else.
It's from "friends" hard on their luck.
It's fromparties offering a quick, easy way to make extra money. If it sounds too good to be true, it is.
Here are steps you can take to protect yourself:
Consider asking your bank to send the cashier's check for collection rather than directly depositing the check into your account. Confirming the check is good is worth the extra wait.
Request a wire transfer rather than accepting a cashier's check.
Do not transfer ownership of property or use funds until you have proof that the cashier's check is not fraudulent.
Meet the buyer at the buyer's bank to obtain payment and transfer ownership after receiving a cashier's check directly from teh buyer's bank.