On Dec 19, 6:01 pm, "Kate" wrote:
"Curran Copeland" wrote in message
. ..
"Kate" wrote in message
. ..
"Curran Copeland" wrote
Who is getting scammed here and by whom? I
took one of the checks to my bank and they took one look at it and said
they
wouldn't even cash it for me. So who is losing money on this?
---
I'm just a little curious, why did you not contact the police department?
Kate
I did both the local police, State Police and Sherriff. All told me same
thing"Don't Cash the Check", they claim that there are too many of these
scams going on and they are so expensive to persue that they don't have the
resources to do any thing about them. Alot of them seem to be international
in scope and out of the venue of the local or even federial authorities.
Amazing, isn't it?
That's a darn shame.
K.
On Dec 19, 6:01 pm, "Kate" wrote:
"Curran Copeland" wrote in message
. ..
"Kate" wrote in message
. ..
"Curran Copeland" wrote
Who is getting scammed here and by whom? I
took one of the checks to my bank and they took one look at it and said
they
wouldn't even cash it for me. So who is losing money on this?
---
I'm just a little curious, why did you not contact the police department?
Kate
I did both the local police, State Police and Sherriff. All told me same
thing"Don't Cash the Check", they claim that there are too many of these
scams going on and they are so expensive to persue that they don't have the
resources to do any thing about them. Alot of them seem to be international
in scope and out of the venue of the local or even federial authorities.
Amazing, isn't it?
That's a darn shame.
K.
I haven't found this snopes link in this thread yet:
http://www.snopes.com/crime/fraud/cashier.asp
They don't seem to be international, they ARE all international.
That's a key part of the scam.
"The scam works because the Federal Deposit Insurance Corp. (FDIC)
requires banks to make money from cashier's, certified, or teller's
checks available in one to five days. Consequently, funds from checks
that might not be good are often released into payees' accounts long
before the checks have been honored by their issuing banks. High
quality forgeries can be bounced back and forth between banks for
weeks before anyone catches on to their being worthless, by which time
victims have long since wired the "overpayments" to the con artists
who have just taken them for a ride."
If the bank does accept the check and give you the money, the only way
to be safe is to hold the cash till the check actually does clear or
not clear. Which, assuming the bank doesn't spot it and refuse to cash
it, can take weeks.
I suppose one can actually make money on it by using the time it takes
to clear to invest it in something short-term and high return. But
most of those schemes are also illegal. :-)