Watch Out for Fake Check Scams
It isn’t easy to spot a counterfeit check, Fraudsters know how to make a fake check look completely legitimate — so good that even a bank teller can’t spot it. That’s why fake checks are now used to commit all sorts of scams and victims are losing a lot of money.
Earlier this year, the Better Business Bureau released a list of the Top 10 Most Risky Scams based on an analysis of complaints collected through its online Scam Tracker. Fake check scams came in at number two, just behind home improvement scams. That ranking is based on how many people are targeted by the scam, how likely they are to fall for it and how much money the average victim loses. The BBB tells me the typical loss to a scam is about $275 — but with fake check scams, it's almost $1,500.
On the KOMO Midday News (weekdays 1-3) John Breyault, who runs the National Consumers League’s Fraud.org website, explained how fake check scams work. Read more about Fake Check Scams. (Click the picture above to hear the audio).