Forged Cashiers Checks
- Forged Business Checks
- “HOT” Personal Checks
THE PHONY CHECK for the cost of the vehicle:
Scam artists appear in dealerships when banks are closed and verification of a check cannot be easily obtained. A “Cashiers check” is one, which the businessperson and the general public consider automatically to be VALID. This may NOT be the case. The effort must be made to verify the identity of the customer and the validity of the check with the Bank, even if it requires 24 hours to do so.
THE PHONY CASHIERS CHECK for MORE than the cost of the vehicle:
A scam artist sees your vehicle presented for sale on the Internet. He/She claims to have a cashiers check for much more than the cost of the vehicle. The hope is that you will accept the check and return the difference in cash to the scammer.
THE PHONY CASHIERS CHECK or CASH for LESS than the cost of the vehicle:
If you are unable to verify the check at the time, a scam artist hopes you will accept his/her counterfeit cashiers check, along with a bogus personal check. Again, DO NOT accept until all are verified. Even more enticing is the cash/bogus personal check combination. A partial cash payment does not automatically guarantee the validity of a personal check.
THE PHONY CASHIERS CHECK USED FOR PURCHASE OF A VEHICLE WITHOUT A LIEN:
Supposedly because he and his spouse have not decided how the vehicle they want to purchase will be titled, a SCAMMER requests the Title remain open on the back. He/She presents the phony check and takes the vehicle immediately to another dealership to trade.
THE SAME VEHICLE is marketed to another dealership by the scam artist for much less than its market value. Based on statements by the scam artist “seller”, this is a strong enticement for the unsuspecting dealer/buyer.
TAKE YOUR TIME AND ALWAYS VERIFY!