Fraud Prevention Ignorance Isn't Bliss If It Lands You in Jail! Ask Questions. Be Skeptical. Anything that sounds too good to be true usually is to good to be true.
Unfortunately, the scenario described in the newspaper clipping above is all-too common in our world these days. And here's something that most people don't know - the person passing the counterfeit checks, even if he claims to believe the checks were all good, usually ends up being the person prosecuted. The shady accomplice, who is usually well insulated by a false identity and a foreign address, escapes unscathed almost every time. The fact that a check is cashed by a bank, credit union, or merchant doesn't guarantee that the check is good. Sometimes, it may take a few days before the counterfeit check comes back stamped "counterfeit." Many of these counterfeits are so good, that even experts can't tell them from the real thing. Often, the only way to find out if they are real or not is to let the check go through the clearing process to see if there are funds at the issuing end. So, what should you do if you are given a check (or series of checks) from a suspicious source to be cashed or deposited? First and foremost, ask probing questions. Know who is giving you these checks. Use common sense. Where do the checks come from? Why does this person need someone else to cash checks for him? Why would he be willing to pay large sums of money just to have someone cash a simple check, if the check were any good in the first place? If the checks are obvious counterfeits, you should take them immediately to the police. If they look good, but you still have a sneaky suspicion that they might not be 100% legitimate, ask your financial institution to place a hold on the check until it clears. That way, you won't get stuck with a debt to the credit union or bank when the check comes back bad, but you've already spent the money or sent large portions of it to the scam artists. Remember, YOU may end up being the person who is prosecuted for passing counterfeit checks if you do not exercise proper caution or fail to ask the right questions. In such cases, ignorance isn't bliss... it's a ticket to jail!