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Protecting Yourself from Fake Check Scams

The Financial Industry Regulatory Authority (FINRA) has recently received an increasing number of reports of people receiving unexpected checks, sometimes from organizations with names of objects found around the home. Their recommendation to anyone who received an unexpected check: don’t cash it – chances are that it’s counterfeit.

In some cases, the check will have real routing and account numbers on it, along with the name of a legitimate company. In this case, the scam will include instructions to immediately transfer a percentage of the money to another account so when the bank flags the check as a counterfeit you will be on the hook for the money you transferred away.

In other cases, the check will be delivered to your door in a method that requires your signature, like by registered mail. While instructions may not accompany these checks, FINRA suspects that after it’s deposited the fraud target will become further entangled with the scammer. Your endorsement could give the scammers more information about you and your account.

Our securities fraud attorneys at Meyer Wilson are committed to providing victims of fraud with the experienced legal representation they need to recover their losses. If you were the victim of fraud, call us at one of our office locations or send us your information through our online form to start out with a free consultation.

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The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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