Greg's Corner

The fake check scam goes digital

By Greg Collier

In recent years, digital banking has become increasingly popular, and for good reason. Gone are the days of waiting in long lines at the bank or struggling to find time to visit a physical branch. With the rise of digital banking, managing your finances has never been easier. From opening accounts and applying for loans to paying bills and monitoring your transactions, digital banking allows you to take control of your money from the comfort of your own home.

However, that convenience comes with some security risks. We’ve often discussed the fake check scam, where victims get sent a fraudulent check and are asked to return a portion of it. It used to be most prevalent with online selling, but now we tend to see it more with job scams. In both instances of the scam, physical checks are typically sent to the victims for them to deposit into their bank accounts before sending a portion of the money elsewhere. Once the bank determines the check is fraudulent, the victim becomes responsible for paying the bank back the amount of the check and then some.

Now, there is a fake check scam where the scammers aren’t even sending physical checks. According to police from a Cleveland suburb, Scammers are approaching victims on social media and asking their victims if they can buy the pictures they’ve posted on social media. The victim is then emailed a picture of a check, which they are told they can deposit by scanning it with their bank’s app. However, like in most check scams, the check is more than the amount the scammer promised. The victim is told to send the difference back through Zelle or Venmo once the check has cleared the victim’s account. The scammers then make off with the money from the victim, while the victim gets charged by their bank.

If you ever receive a check, whether physical or digital, if it’s for more than the amount you were promised, do not deposit it. It’s almost guaranteed to be a fake. No legitimate professional or business would ask you to pay them the difference through Zelle or Venmo. These apps are meant to be used between friends and families and not random strangers promising you money.

Banks and financial institutions have implemented several measures to protect their customers from these risks, but users also have a responsibility to protect their account and personal information. By staying informed and taking the necessary precautions, you can enjoy the benefits of digital banking while keeping your finances safe and secure.