Cheque Overpayment Scams

The Bait: This scam tends to follow an advert that you may have placed selling an item of your property or an auction item you may have sold. The buyer or their agent offers to pay for the item by cheque, however at the last minute they ask if they can overpay the purchase price and ask you to wire back the overpayment to their bank account. They cite many believable reasons for you to do this.

The Catch: When the cheque arrives it will look like the real thing, and they often fool unsuspecting bank staff. Your account balance will be credited by the value of the cheque, assuring you that the overpayment can be refunded to your customer. When the customers cheque then bounces, you will be liable for costs and of course you lose the money that you refunded.

Kind regards,
COO of www.dontbeconned.com