Don’t Be a Victim – Counterfeit Money Order Scam

Each year, con artists steal millions of dollars from unsuspecting Americans.   Recently, our firm was notified about a scam involving counterfeit postal money orders.  Victims receive a FedEx package containing a  fake postal money order in the amount of $955.35 from a fictitious bank with no other explanation.   Logic says, if it looks too good to be true, it probably is.  These money orders are fake and should not be cashed or deposited.

According to Looks Too Good to be True.com, “Bank customers are responsible for the checks [or money orders] they deposit, and victims must repay the bank for bad checks. Federal law requires banks to make the funds you deposit available quickly, but it’s important for consumers to know that, just because you can withdraw the money, it doesn’t mean the check is good. Banks often release funds from a cashier’s check or money order before it clears.”  Meaning, you may be on the hook to pay back the full amount of the bad check or money order.

If you or a loved one believes that they may be  a victim or target of such a scam, contact your local authorities.  You may also contact the Federal Trade Commission Consumer Fraud and Identity Theft Division at 1-877-FTC-HELP or via their website.