Dirt On Your Dirt-Bike

By Will from Holland

(Part 2 of 2)

What went wrong…

You receive the cashier's check for $7,200. It appears to be drawn on a legitimate U.S. bank. Your bank accepts it. You withdraw $5,200 and wire it by Western Union to the overseas address. In the next week to three weeks, the cashier's check is returned as counterfeit. The total $7,200 plus fees are taken from your accounts and you may be suspected of fraud.

How to protect yourself…

First, be extremely wary of any such offer that has you sending "change" even if it appears to come from within the U.S. For any large sale to anyone, asking for a cashier's check or money order is usually wise. But wait for the cashier's check or money order to clear—even if it takes a couple of weeks—before you deliver the goods. Alternatively, call the bank that issued the cashier's check (its name will be on the check) and ask if they issued it.

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Although we are more Internet savvy than many adults, we’re also the ones falling for these types of scams. Why?

We don’t pay attention, or don’t think about what can happen.

We’ve got two easy solutions for you here…

1. Attitude Recommends that if you sell your ‘toy,’ that you never do business with a stranger who wants you to send them money back from their check.
2. If you’re not going to listen to this advice, however, make sure you wait for the buyer's check to clear into your account before you take any action whatsoever—even if the check is made out for the exact amount. Don’t reimburse any money without knowing you got yours for sure! It can take up to three weeks for a check to clear into your account, incidentally.
   

Make sense? Read more about issues like this in our other articles and be sure to give us your feedback.

Cheers, Will

Continued
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