Be Wary of Phony Checks: Protecting Yourself from Craigslist Scams

Have you ever received a text message from someone about your ad on Craigslist, offering to pay more than the listed price, and asking you to deposit their check and wire transfer the remaining amount? If so, you should be very concerned as this is a common scam tactic used to defraud individuals. This article will explain the common tactics used in these scams and provide guidance on how to protect yourself.

Fake Checks: The Foundation of the Scam

The check you receive is likely to be fake. Fraudsters often send checks for more than the agreed amount, hoping you will deposit it and wire the excess before the bank realizes the check is worthless. This is just one of the many ways that scammers try to trick individuals into parting with their money.

Immediate Action Required: Urgency is Key

Scammers typically pressure you to act quickly, often claiming that there is an urgent need to ship the item or other reasons to rush the transaction. This sense of urgency is a red flag and something to be wary of. Legitimate transactions do not require you to act immediately, and there is no reason to rush a payment or shipping process.

Wire Transfers: Irreversible Money

Wiring money is akin to sending cash; once it is sent, it is nearly impossible to recover. Scammers often ask for wire transfers because they can’t be reversed. Thus, when the check they send you bounces, you’ll be out of luck trying to get your money back from the shipping company you wired funds to.

Unusual Requests: A Sign of Trouble

It’s highly unusual for a buyer to ask you to handle payment and shipping in this manner. Legitimate buyers will pay the exact amount and handle shipping directly. If someone requests an amount more than they owe, or asks you to handle a payment in an unusual way, it should raise some red flags.

What to Do

Do not deposit the check or send any money. Instead, report the scam to Craigslist and your local authorities. If you have already shared any personal information, monitor your accounts for unusual activity.

Conclusion

Be cautious of transactions that seem too good to be true or involve unusual payment methods. If someone contacts you about an ad on Craigslist and requests to handle payment differently, treat it with suspicion. Remember, never accept payment for more than the value of the item. That check will almost certainly bounce, and you will lose both the amount of the check and a bank fee for depositing a phony check.

Prevent Future Scams

To protect yourself from similar scams in the future, always verify the legitimacy of the person offering to buy your item. Only accept payment methods that are safe and proven, such as bank transfers, PayPal, or remainder cash after you have received the agreed amount.

Stay alert, be cautious, and protect your hard-earned money from scammers. Happy selling!