This PPT reviews the problem of fake check scams and how scammers, spammers, and fraudsters try to steal from people. It also contains tips on how one can stay safe while transacting, as pointed out at several finance events, such as the Money 2.0 Conference.

1. Fake Check Scam:
Money 2.0 Reviews Ways To Stay Ahead of
Scammers

2. Table of Contents
What is a
Fake
Check
Scam?
How to know
if you are
Scammed?
How Fake Check
Scammers
work?
How to
avoid
getting
scammed?

3. What is a Fake Check Scam?

4. ● In a fake check scam, a fraudster tells you to deposit a
thousand dollars worth of check, usually more than you
owe, and transfer it to someone you probably don’t know.
● As pointed out at finance events, the scammer always
comes up with a good reason for why you need to deposit
the check and cannot keep all the money.
● They may tell you that you must pay taxes or fees, that
you must purchase supplies, or that you must do something
else. This way, they persuade you to send them a check.

5. How to know if you are Scammed?

6. When someone sends you a check and
asks for money in exchange
You are
getting
Scammed!

7. How Fake Check Scammers work?

8. ● ‘Mystery shopping’ is the primary tool of
fake check fraudsters. They begin by
hiring innocent people into the chain
while asking them to evaluate a gift card
or money order retailer.
Then they provide the shoppers with a
check instructing them to deposit it in
their bank account and wire it to
someone else; by the time they do it, the
scammer disappears after withdrawing
all the money.
● Scammers pretend to send extra money via a
check and ask you to ‘refund the balance.’
● They even hire someone as their ‘personal
assistant’ and ask them to buy gift cards for
new clients, and once they get what they
require- the gift card pin number, they
disappear, leaving the personal assistant with
nothing but dismay.

9. How to avoid getting scammed?

10. ● DO NOT fall into the fraud where you are asked to purchase, send gift cards, money orders, or wire money
to a total stranger or to someone you are not very much familiar with using a check.
● NEVER pay to get something that you earned. Suppose you are getting an offer where you can win a prize by
paying some amount, toss that offer right away.
● If you are getting a check for more than the selling price of any particular product or service, DO NOT
accept it.

11. This Presentation was Prepared by,
VINAYAK JOSHI,
MANAGER, MONEY 2.0 CONFERENCE,
www.money2conf.com
THANK YOU!