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Home >> Scams/Fraud
What Happens if this is a Scam?
I received an offical check by overnight delivery from a work from home online company. I deposited it into my account, but after I did so, people were telling me that it could be part of a scam. I spent the money, because it was around Christmas time, but I'm afraid it will come back NSF. Will I go to jail? Will the bank drop my account?
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 If the check is returned as fraudulent, your bank will charge your account and create an overdraft, thus triggering overdraft fees. The bank will expect repayment of the overdraft, and it may not be willing to wait until you find it convenient to do so. If you have funds in another account you can use them cover the overdraft when it occurs. Take care of the negative balance as quickly as possible. If you make that transfer before the potentially fraudulent check is charged back, you can avoid the overdraft and its fees.
As an innocent victim of a scam, you would not face jail time. If you fail to cover an overdraft in your account, however, your bank could use legal collection methods to attempt a recovery. The bank can close your account because of your deposit of a fraudulent check whether or not your account goes overdrawn. If an overdraft does result, it can report the overdraft and the account closure to a credit reporting agency, making it more difficult for you to open an account elsewhere.
Published on BankingQuestions.com 1/08/10
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