Caller to BBB: “I ran an ad on Craigs List to sell my wedding gown for $350. I got a response from a woman in Virginia that she was interested. She was planning a second marriage and thought my dress would be perfect. She agreed to the price, but when I got her check, it was for $2,350! I contacted her and she was very embarrassed. The $2,000 was for the move into her new apartment after the marriage, but her assistant had put it in the check to me by mistake. She suggested that I just deposit the check and next day pull out the $ 2,000 and send it back to her. I would keep the $ 350. I did what she suggested, but now the bank says the check was counterfeit! I have to pay them back the $2,000! This is devastating!
BBB says we call this the Overpayment Scam. The crooks know that these offers are appealing. Once you deposit the check in your bank, the money will be credited to you, usually the next day. You can then withdraw it and send it to their alternate address. But it takes a week or more for the bank to discover that the check is counterfeit! It “bounces” and the bank informs you that you must repay them the $2,000!
In this case, BBB investigated and learned that the “Virginia” woman was actually in Africa. The money is gone. BBB sees overpayment scams with “secret shopper” offers and even when people buy and sell items on internet services like Craigs List. They may ask you to withdraw the money to buy gift cards, then take photos of the card numbers and send to them. They get your money immediately.
This is a big scam! NEVER deposit an “overpayment check” and then withdraw a portion to send somewhere else until you have confirmed with the bank that the check was “good”! Instead, if you are selling your car, applying for a job or whatever and the people send you an overpayment, assume it is counterfeit, the offer is fake and you will end up paying back the bank.
Source: Dick Eppstein, BBB
