Check Fraud

Check Fraud is on the Rise

The Federal Trade Commission (FTC) is warning all American families to be on the lookout for check fraud. This doesn’t just mean someone could write you a bad check, they could con you into sending them cash after depositing those back checks.

Here’s how it works.

  1. You get a letter containing a cashier’s check for a large sum of money (maybe $5,000).
  2. The people sending the letter are telling you that you have won a lottery or other winnings. To get your prize, all you need to do is cash the check and send them back $500 for processing.
  3. You cash the check and send them the money.
  4. Days later, you find out the check was fraudulent, and you’re out $500.

This is called an overpayment scam. And it happens all the time.

As the old saying goes, if it seems too good to be true, it probably is. But if you’re not sure, talk to us first. We can help you determine if something is real or not. Stop by or call 503.397.2376.

In the meantime, the Federal Trade Commission has more resources about this and other check fraud here.