Business Opportunities Weblog

June 2, 2004 by Dane Carlson | 0 Comments

ScamSafe: “The way it works is that they have people deposit checks, ranging in amounts from a few thousand to as much as $100,000, into their personal or business bank accounts. The check typically arrives overnight via FedEx. Unbeknownst to the victim, the checks are fraudulent—stolen, altered and forged to appear real. The thieves tell the victim to quickly wire transfer the amount of the check to the payee, minus a 5% commission. (The payee is said to be a US Citizen abroad or a foreign national with US bank accounts). The victim wires the 95% amount expecting to see a 5% commission soon—when the check clears. The check will never clear however (as its fraudulent) and the victim is left holding the bag since they wired their own funds. In addition, once the scammers have the victim’s bank account information from the wire transfer, they can also use those numbers to create a ‘demand draft’ and withdraw funds without confirmation—draining the account.”

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