How to Spot Check Cashing Scams

With the trying economic times it is easy to fall for the easy money scams. Check cashing scams are everywhere and it is easy to get caught up in something that could lead to your own financial demise.

Things You'll Need

• Common sense

Instructions

1. If you are searching for jobs on the internet then you are most likely going to find a scam ad for check cashing. The first indicator is the posing willing to offer a position to someone with no experience in accounting or finance.

2. The next phase will be the kicker. You will be told that you will receive checks or money orders from clients. The person communicating with you will tell you that this is because the company is located overseas and does not have access to US based banks. This is not true. Thousands of companies operate overseas with US clients.

3. You will be told to take the checks or money orders to your bank, deposit them or cash them, keep 10-15% for yourself and wire the rest to them. The wires are generally sent to Nigeria or England but Canada is also well known in this scam as well as several Asian countries.
   Once you have done this then you are on the hook for the lost funds at the bank because the checks or money orders are fake or altered.

4. You should look for broken english and things that are too good to be true. A company overseas is never going to hire someone that they have never met to handle all of their US financial transactions. Those jobs are reserved for large accounting firms.
   Don't be fooled. These people can be very convincing. However, you will be held responsible and since the criminals are overseas they will never be brought to justice.

Tips & Warnings

• Watch for broken english and name confusion. In Nigeria it is not uncommon for the scammers to confuse the female and male names or prefixes. They often refer to themselves as Mrs. when they are male.

• There is always a sense of urgency. You will be told to cash the checks or money orders as soon as possible and get the money sent. This is because they know that the longer you wait the better chance that someone will catch on.

• Never give your phone number or personal information.

• If you receive checks or money orders that are questionable then take them to your bank or the police to have them checked out.

• Things that are too good to be true usually are.