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Timely Holiday
Reminder
Scam Tricks Secret Shoppers into Depositing Counterfeit Checks
Part-time jobs as “Secret Shoppers” are growing in popularity, but be forewarned of scams which attempt to trick victims into unknowingly passing counterfeit checks when they complete a training assignment and/or are tasked with testing the effectiveness of a money-wiring service.
Scam scenario #1
The victim receives an employment packet containing training materials,
along with a check that is made out for $2,000-$3,000. The instructions
for this assignment instruct the victim to act as a customer at either
their own bank or at a bank specified by the sender to cash the check
and then have the funds wired to a specific address.
Scam scenario #2
The victim thinks they are completing a secret shopping assignment for Money Gram, a money-wiring service and receives a package containing a valid-looking cashier's check with the instructions to deposit the cashier's check into his/her own
account. To test Money Gram's service, the Secret Shopper is then
instructed to wire
a majority of the check's total back to the Secret Shopper company.
How the scam works and tricks
the victim
To pay the Secret
Shopper for his/her
time and assistance, the victim is instructed to keep a small percentage of
the money as their commission. What the Secret
Shopper does not
realize is that although the
cashier's check may originally clear, the check is a counterfeit
and will bounce once the money has been wired out of the country. It is
at this time that the victim will be notified by his/her financial institution
that the check was counterfeit and that he/she is responsible for the
financial loss. The Secret Shopper can be out hundreds, or
even thousands, of dollars.
Variations of this scam have the victim/Secret Shopper wiring the money from various banks, credit unions and Wal-Mart locations, but the scam can be carried out at any institution that wires or money transfers funds.
What you can do to protect yourself against this and other phishing scams
- If you would like to become a Secret Shopper, check the credentials of the organization before you accept an assignment.
- Never use your personal account to make “business” transactions and remember that legitimate companies would not ask you to do this. If you use your own financial account, you will be held responsible for any deposits and withdrawals.
- Never accept a check from a company or individual you do not know without checking to make sure the check is real and that the funds are available. If you suspect the validity of a cashier's check, ask your Credit Union for assistance.
We also suggest you sign up for our Fraud Prevention e-LERT. Our Fraud Prevention e-LERT will immediately advise you when we have added a new article or warning to the ‘Fraud Alert' section of our website.
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