We’ve recently seen an increase in the Craigslist Scam. This is when a buyer for an item listed online sends a check for more than the asking price of the item. The fraudster will ask the seller to deposit the check and then send the extra money back.
For example, you sell a car on Craigslist for $1,000 and the purchaser sends you a check for $3,000, asking you to send them the remaining $2,000 cash back.
This is a red flag that the check is fraudulent. The fraudster hopes that the fraudulent check will be deposited, and seller will send their legitimate money back. In the past weeks we’ve seen many fraudulent cashier’s checks.
Please be wary of checks for more than the asking price of the item. Should a check be deposited into your account and that check is found to be fraudulent, the amount of that check will be debited from your account.
If you think you’ve been sent a questionable check, visit your nearest Merchants Bank. We can help.