Avoiding Bogus Check Scams

Bogus Check Scams Flood the Web

Bogus check scams take on a number of forms, from requests to help retrieve a lost inheritance to bogus jobs, there are literally hundreds of people falling for these bogus check scams each and every day. If you’re not careful, these bogus check scams can cost you literally thousands of dollars. Here’s what to watch out for.

Never Send Money Back

All of these bogus check scams have one thing in common — they send you a check and then ask you to send a portion of the funds back to them. Whether you’re selling something online or someone is asking you to complete a job, if they send you a check and ask you to send a portion of the funds back to them, the deal is probably a bogus check scam. There is never a good reason for you to have to send part of a payment back that was sent to you.

Here’s the problem. Let’s say you’re sent a check for $10,000 and the person who sent it wants you to send them $3,000 back. Easy money right? I mean, you just earned $7,000 for barely doing anything. Wrong! The check is bad, and you just sent away $3,000 of it, making you responsible for paying that $3,000 back to your bank. Not only didn’t you earn $7,000, you just lost $3,000 of your own money.