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Home >> Scams/Fraud
I Was Scammed: What Now?
I was given a check from someone in the amount of $2300. Before I deposited it, I checked the business and it was legitimate, so I deposited it. Today I received a message from this person stating his accountant made a mistake and sent $800 too much, and that I should forward that amount to someone else. I am sure that is a scam. I want to know how long will it be before I will be notified if the check is no good and what if I spent some of the money.
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 You obviously have heard about similar scams. This is a classic example of one that's been around for quite a while. It sounds as though you have already deposited the check. If it claimed to be drawn on a U.S. bank, it should take about two weeks for you to know if it's been returned. If you made a copy of the check, you might be able to contact the company or the bank it's drawn on directly. Use an online directory service to get the number; don't trust any phone number on the check.
If the check bounces as you think it will, your bank will look to you to cover it. If you've already drawn some of the funds, your account will go overdrawn and you could be charged overdraft fees. You can also expect that the bank might take a hostile stance, demanding its funds back. Banks often think they are going to get stuck with these checks, and may not be terribly patient. It might go a lot better if you contact the bank in person if you can, to let them know that you expect to see the check come back, and, if you are able, put enough in your account to cover the check before it gets charged back. In that way, you can avoid overdraft fees and probably any negative fallout.
Published on BankingQuestions.com 1/08/09
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