New scheme of check fraud

American Trust & Savings Bank disclosed the information of new scheme of check fraud affected some Dubuque residents. "The fraud consists of a too-good-to-be-true offer that could end up costing them money," said Mark Casel, vice president and cashier at American Trust.

At first step - the consumers receive an invitation to participate in "mystery shopping" job,  i.e. secretly "shop" another company and report their experience there. Once the new hired "shoppers" sent the acceptance of the offer, the "company" sends the cashier check  for a big amount of money issued by the bank out of local area.  The "mysterious shoppers" further have to deposit it into their personal bank accounts and to make some mystery shopping purchases at local stores using the deposited sum. At second step - the shoppers were obliged to send the part of the deposited funds back to the scheme's perpetrator via Western Union as if to monitor the level of service provided (strange is the fact that the online frauders demonstrate their preferences toward Western Union, in reverse, the hackers, scammers and phishers - to e-gold -could it be considered as proof of the e-market leaders? -  N.)

At third step the consumers file the report and send back the remaining funds. The deposited checks bounced and the "shoppers" were out of the entire amount of the check as well as the funds transferred.

"Consumers need to be wary of too-good-to be-true financial opportunities offered by companies or individuals they don't know personally," Casel said. "There are many other fraudulent check scenarios where people receive a check that may look valid and may be accepted for deposit by a bank."

Natalia, reporter of Ecommerce Journal