Once it is deposited, they ask that you send all or part of the proceeds back to them or to someone else (an accomplice) before the bank where it was deposited tries to clear or process the check for payment and realizes the instrument is fake. Fake checks can look so real that it’s very hard for consumers, or even bank employees, to detect.įake bank checks are typically used in scams where the scammer tries to get you to cash or deposit the check. Advanced graphics and printing technologies allow scammers to easily create fraudulent and hard-to-detect counterfeit checks in a matter of minutes, adding a sense of legitimacy to their scams. Unfortunately, criminals have come to rely on their victim’s sense of “security” provided by cashier’s checks and official bank checks. This means the payment is guaranteed, unless the check is counterfeit, so there are risks to consumers and businesses from these types of paper instruments, as well.

Recipients generally prefer one of these checks over a personal check because the financial institution presumably has already collected the funds from the party purchasing the cashier’s checks or official bank checks. Agosto 2019 - PDF Protect yourself from fake check scams with these tips from FDIC Consumer NewsĮven in today’s digital and mobile world where electronic money transfers are common, consumers and businesses may still prefer the assumed security of paper cashier’s checks or official bank checks for large or major payments.

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