NCUA Warns of Fake Check Scams

Consumers Should Be Vigilant and Avoid Depositing Checks from Unknown Parties

ALEXANDRIA, Va. (April 10, 2017) – Consumers should be on the lookout for fake check scams, the National Credit Union Administration warned today after receiving numerous inquiries from consumers.

There are many versions of a fake check scam.  However, the result is the same. Scammers lure consumers into depositing a cashier’s check, money order, or other checking instrument from someone that they don’t know and wiring or sending money to the scammers. A check may take considerably longer to clear the financial institution that issued it before the funds can be collected. It could take days or even weeks to discover that the deposited check was fraudulent.

View the entire press release​

 

NCUA Warns of Fake Check Scams

Consumers Should Be Vigilant and Avoid Depositing Checks from Unknown Parties

ALEXANDRIA, Va. (April 10, 2017) – Consumers should be on the lookout for fake check scams, the National Credit Union Administration warned today after receiving numerous inquiries from consumers.

There are many versions of a fake check scam.  However, the result is the same. Scammers lure consumers into depositing a cashier’s check, money order, or other checking instrument from someone that they don’t know and wiring or sending money to the scammers. A check may take considerably longer to clear the financial institution that issued it before the funds can be collected. It could take days or even weeks to discover that the deposited check was fraudulent.

View the entire press release​

 

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