Don’t be fooled by a remote capture/deposit check scam – Savings Corner presented by Coosa Valley Credit Union

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Scammers are always looking for ways to prey on people, especially consumers who need money fast. One way is to use Remote Deposit Capture (RDC), a service that allows you to remotely deposit a check into your account.

The basic ploy these scammers use is to tell you that they will deposit money into your account if you agree to send some of the money back to them. To complete this transaction, you need to provide them with your cash account details. The scammer then deposits a check into your account using RDC. Since credit unions and banks are required by law to make funds available from deposited checks within 1-2 days, you see the money in your account immediately. You then transfer some of the money to the scammer and keep the rest. Sounds like easy money, doesn’t it? Not so fast…

When the financial institution tries to collect the funds from the scammer’s bank, they discover that the check is fake. This leaves you responsible for the amount of the check and the returned check fee. What about that money you already wired to the crook? You will never get that back.

There are other variants of the RDC/Check scam:

  • An online lending site. To receive the loan, you must give the business your credit union account number, online username, and password so that the business can deposit the check into your account. The company deposits a check using remote deposit capture and then asks you to return the money to prove that you are trustworthy.
  • Mystery shopping. The scammer hires you to review the stores. The “employer” deposits a check into your account and asks you to use some of the money to purchase gift cards at these stores. You must send the PINs of the gift cards you have purchased to the “employer”.
  • Personal assistant jobs. You apply online and need to give your new boss your account information. The boss deposits a check into your account and, as in the scenario above, tells you to use some of it to buy gift cards. You just need to give the boss the PIN numbers.
  • Car wrap advertising job. You are offered thousands of dollars to wrap your car with a company’s ad. The check is deposited into your account and you are told to transfer part of the amount to their shrink-wrapped provider. (The scammer and the seller are really the same person). Once you wire the money, the credit union discovers the check was fake and your “employer” is gone.

Bottom line: never give your online banking information to someone you don’t know or trust.





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