Overpayment Scam Returns

Two years ago I posted an article on our blog about how crooks are using classified ads and other websites to perpetrate a scam that can be called "Overpayment."  The scam artist says he will buy your $2,000 stereo from you based on the ad he has seen in the newspaper or online.  He sends a cheque for $4,000.  You, being the honest person you are, e-mail him saying that he overpaid.  The scam artist replies that it was his secretary's fault and says it would be easier if you just deposit the cheque and than mail a money order for the difference back to him, even offering $100 as a reward for your honesty.

You deposit his cheque, take out the $1,900 as a money order and mail it off.  A day or two later you find out that his cheque was fake and that it has bounced, while the money you sent from your account as a money order is very real.  This overpayment scam has grown and is being used all over the country, including targeting people in the Rocky Region.  It is generally best to meet the buyer/seller in person so you can see the goods or the money you will be getting.

A new version of the scam

There is a slightly modified version of this scam going around this past year.  It preys on people who are looking for work.  It goes like this:

The scam artist advertises for someone to make money by being a mystery shopper at financial institutions.  When victims respond to the ad, the con artist tells them that they will be checking on how well a financial institution is following legislation regarding wiring money.  The scammer mails a cheque or two to the victims, instructs them to deposit the cheques and then to wire the money to a certain account that is provided.  The victims follow the instructions, keeping $200 for themselves as pay for services.  Unfortunately, it turns out the cheques sent by the scam artist are fake and they are rejected within a day or two, while the money the victims wired out was real and out of their own account.

It is important to note that most ads for selling/buying and hiring in the classifieds or online are real ads, but there are also crooks trying to steal your money.  If, however, someone is giving money up front before a job or transfer of goods is actually done, then the job is probably too good to be true.  Please be aware of the different types of fraud that go on, both to protect your own hard earned money and the assets of your loved ones.

The RCMP have a website dedicated to fraud.  You can get a lot of useful information at Phonebusters.com, and that information can help you keep your money safer.  Jerry