With internet sites like Craig’s list and Ebay online shopping has been growing by the day. However one thing that also continues to grow is the danger of fraud. Online shopping predators are getting smarter and consumers and sellers need to prepare themselves.
Changing the GameOne of the ways fraud is occurring in the online marketplace is buyers sending the sellers fake cashier’s checks. The checks look authorized but in reality have simply been printed from a normal printer. Banks used to regard cashier’s checks as “good as cash but even banks are having to restructure their view of cashier’s checks as an increasing number of checks end up bouncing.
A Local ProblemNicole Postko, a Malibu Bank of America manager, says that victims of online fraud happens even in Malibu. She informed Newswaves that the predators prey on the young people and senior citizen buyers who might be more impulsive in accepting money. When the customer comes to the bank, if the customer has been with the bank for a while, the bank honors the customer’s record and immediately deposits the cashier’s checks into the the valued customer’s account. However, if the check is fraudulent, seven days later that money will come right back out of the coustomer’s account; which by that time might be too late.
Tips for SecurityPostko says that the bank should know within 5-7 days if the check is fake, so wait at least a week. Also, you can call the bank and read to them the routing number from the check to immediately tell if it is fake.