A new counterfeiting
scheme has allowed scam artists to
cash in thousands of phony money
orders—and Americans are footing
the bill. Fortunately, there are
ways to protect yourself.
According to U.S. Postal
Inspectors, the scam begins when
a victim is contacted by someone
through an Internet chat room or
online auction site. The con man
claims to have financial problems
and to need help cashing money
orders. The person “in need” often
claims to be living in a foreign
country (usually Nigeria), but the
scam artist can cook up the
scheme from any location.
Victims are lured into the scam
when they are told they can keep
some cash from the money order as
payment for cashing it and wiring
the difference to the con man. The
scammer then mails the victim a
counterfeit money order with
instructions for the victim to
deposit it in his bank account and
wire the money back to the fraudster.
Victims usually learn the
money order is counterfeit only
when they attempt to cash it or
when their bank account takes the
hit for the full amount of the money
order after the bank refuses payment
on the bogus deposit.
The good news is that legitimate
money orders have security
features that help distinguish
them from counterfeit notes. For a
full list, visit the Web site
www.usps.com/missingmoney
orders/security.htm.
Knowing the signs of an
authentic money order helps, but
according to Postal Inspectors, so
does using your head. They warn
that most lures promising quick
and easy money are cast by fraudsters—
and if an offer sounds too
good to be true, it probably is.
For more information, visit
www.usps.com/postalinspectors.
Source: Postal Service
