Working to protect
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Advice on cashing a cashier's cheque

Post new topic   Reply to topic    SCAMPATROL Forum Index -> REQUEST HELP
View previous topic :: View next topic  
Author Message
lostwithout you

PostPosted: Sun 28 Aug 2005 19:22    Post subject: precuations Reply with quote

i would like to ask you wat precautions i should follow to cash a cashier cheque as iam dealing on the net and sometimes i found myself have to use this method and the proplem i heared dat the cheque may need months to be cleared so i found myself a victim may be lose my money and my goods so does anyone knows wat should i follow is there any precautions??
Back to top

PostPosted: Sun 28 Aug 2005 20:26    Post subject: Reply with quote

Cashier's cheques used to be a guranteed method of payment as they were backed by banks. However nowadays thanks to the scammers and the amount of counterfeit they produce a cashier's cheque is no longer even worth the paper its written on.

Personally unless I was accepting payment from someone I knew I wouldn't touch a cheque or money order of any kind.

There are a few ways to spot suspicous cheques.

  1. An overpayment is being made and the surplus (change) needs to be wired back.
    If this the case its a surefire way to tell the cheque is fraudulent

  2. The printing on the cheque is poor quality

  3. The paper is too thick or too flimsy - the paper cheque's are printed on has a distinctive feel

  4. Missing perforations - a genuine cheque will generally have been taken out of a book or from a sheet and should have perforation along one or more of its edges, counterfeit cheques however are generally cut possibly with sccisors and lack these perforations.

  5. Missing security features - many bank incorprorate security features into their cheques. These could be watermark which you can see if you hold the cheque up to the light. Some banks use holograms, which are very difficult to produce. The letters/symbol in a geniune hologram should change colour as you tilt the angle of the cheque. They should also be shiny and not dull. Most cheque will have features which are only visible under UV light. This maybe the bank's logo or the name of the bank across the cheque.

Don't just rely on this information. The cheque may be stolen. So the feature mentioned above are present. If the cheque is stolen it will be still be returned unpaid after the account holder reports the suspicous activity on their account.

Demand drafts are also something to watch out for. Many scammers are using a service call Q-chex. Demand draft look much like cheques, except they don't have to signed by the account holder. The cheques from Q-chex look real because they are real. The thing is anyone can sign up with Q-chex and use someone else's banking information. Q-chex doesn't make any security checks.

If the cheque is issued by Q-chex and you don't know the person who is buying from you. Do not accept it. Ask for another method of payment, like Western Union money transfer (while Western Union isn't safe for buyers to use -it safe for sellers to accept) If the person agrees to use Western Union do not send the good before you have the cash in your hand. Many scammer will tell you they will send your part of the information and the rest when you have provided them with a tracking number. This is not true. They are hoping that you will send the item out to them and the item will reach them while they play hard to get. It can be very difficult to get an item returned once you've shipped when you release the buyer isn't going to pay up, and it might not become apparent that you can't collect the money and get paid until its too late and the scammer has received the item you sent.

Other methods that scammer like to use to pay include

  • Western Union Bidpay (or Auction payment) - the scammers spoof emails that apparently come from Western Union that say they've paid and you should now send a tracking number. The emails are fakes. No money has been paid. ALWAYS check you Bidpay account to check the money has been deposited before you ship

  • Paypal - as above scammer fake emails from paypal. Check your Paypal account before shipping. If the money is there always use a method of shipping that gives you a tracking number and retain all receipts that prove you've send the item. If the buyer files a dispute with paypal, paypal will ask for these. If you can't prove to paypal that you've send the item. Paypal will find in favour the buyer and refund their money and issue a chargeback against you.
Back to top
Victim Support

Joined: 04 May 2005, 0:41
Posts: 45

PostPosted: Tue 30 Aug 2005 18:19    Post subject: Reply with quote

@Q Excellent memorandum, it's worth a sticky.
Back to top
View user's profile Send private message Send e-mail
Captain Igloo
Server Admin

Joined: 09 Nov 2004, 19:56
Posts: 394
Location: Germany

PostPosted: Tue 30 Aug 2005 20:15    Post subject: Reply with quote

added to the counterfeit cheque sticky:
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    SCAMPATROL Forum Index -> REQUEST HELP All times are GMT + 1 Hour
Page 1 of 1

Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Powered by phpBB © 2001, 2005 phpBB Group