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Check Scams

Internet has become the most preferred and best destination for scamming activities and the scammers' siphon off the money from the innocent people's saving account. Hundreds of illegal activities are happening on the internet and the criminals are expanding their horizon far and wide. Cyber patrolling is keeping their fingers crossed and is unable to track the movements of the scammers and nab them immediately. Though the authorities have recovered assets worth millions of dollars from the scammers with the assistance of Interpol they are still unable to nab all the scammers those who are operating from different countries.

Scams related to Check are becoming extremely popular and lots of people in the world have received mails from different types of perpetrators connected to this topic. Mail sent by the scammers will be extremely formal and official and contents will also look very genuine and honest. Recently one of the citizens received Lloyds TSB Check worth 3500 pounds from a company called Portolio Metrica Ltd. based in West Africa. Person who received this Check was extremely surprised since he has not done any work or having any account with this bank. He was so surprised that the Check was looking like a genuine one. He was scared to deposit the Check and kept it in his house without depositing.

Check scams involve fraudulent schemes where individuals receive a fake or counterfeit check, often in the mail, and are then instructed to deposit it into their bank accounts. The scammer typically urges the victim to send a portion of the funds back, often citing various reasons such as overpayment, taxes, or fees. However, the deposited check eventually bounces, leaving the victim responsible for the entire amount, and any money sent to the scammer is irrecoverable. To avoid falling victim to check scams, individuals should exercise caution when receiving unexpected checks, especially from unknown sources. Verify the legitimacy of the check with the issuing bank, be skeptical of overpayment requests, and refrain from sending money to unfamiliar entities based on such checks.

cheque fraud

Scams related to business Check :

Scams related to business Check is also making rounds and becoming very popular. In these types of frauds or scams the perpetrator will approach the business house with an urgent order of goods and submit a signed post dated Check which will look like a genuine one. Owner of the goods will dispatch the goods and deposit the Check on the exact date. But the Check will bounce and the owner will be left to lurch. Corporate houses, shopkeepers, commercial establishments and businessmen should follow the below guidelines
Beware of Check scams
  • Should never reply to mails from the scammers
  • Should not provide any personal and financial details even when the scammers gives pressure
  • Should keep the Check books in a very safe place
  • Should never accept Checks from the third party or any strangers
  • Should always check the credentials and the authenticity of the people offering Check
  • Back ground verification check is a must
  • Should never offer or accept from the third party
  • Should escalate the matter to the concerned authority
  • Should dispatch the goods only after the deposit amount materializes
  • Should always reconcile bank accounts

These are only minimum checks and there are lots of checks businessmen should follow before parting away his goods. Scams related to travelers Check and certified Check is also making rounds in the world. Scammers tried to lure the people of York recently into an international money laundering ring. Some of the people living in York replied and received a "fake Travelers Check worth 3000 pounds" from the scammers which was later investigated by the police and found to be fraud. North Yorkshire Police consider these types of frauds as a complex international fraud and an attempt to swindle the money of the innocent people. There are other types of intelligent scams such as deposit, Check cashing and online and so on and so forth.

Business check scams involve fraudulent activities where scammers exploit business checks for financial gain. One common scheme is when scammers create fake invoices or bills purportedly from legitimate vendors and mail them to businesses. The invoices often include details that mimic real transactions, tricking businesses into making payments. Another scenario involves scammers posing as potential clients or customers who pay with fraudulent business checks, often overpaying and requesting a refund of the excess amount. By the time the bank discovers the check is fake, the scammers have vanished with the refunded funds. To prevent falling victim to business check scams, businesses should verify the legitimacy of invoices, scrutinize payment requests, and be cautious about refunding overpayments without thorough verification. Regularly monitoring and reconciling financial transactions can also help identify suspicious activities promptly.

significance of cheque fraud

cheque fraud scam

cheque fraud

Think before sign the cheque

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