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What it is and How it Works
How to Prevent an Internet Buyer Scam
In the Internet Buyer Scam, often originating out of Nigeria, a seller of an item is conned by the buyer into accepting a worthless check for a larger than required payment and sending the buyer or an accomplice the extra funds. This scam has been so successful that crooks everywhere are now getting into the act.
This scam is growing exponentially!
When are funds good?
As required under the Expedited Funds Availability Act and, the bank will let you withdraw the funds from
If a transaction involves depositing a check and then sending part of the money to a stranger in a foreign county, it is almost certainly a scam which will cause a financial loss.
Even after verification, a check can still be returned for various reasons beyond the bank's control!
One last word, be aware that this scam has even occurred with counterfeit money orders and cashiers checks. NO transactions involving depositing a check and then sending part of the money to a stranger in a foreign county should be trusted!
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