Dave
Padilla Lanceros, yum yum!!
A customer walks in and inquires about a few money orders he received. He tells a story:
"I was selling some merchandise on Craig's List (a well known internet site for all things) and found a buyer. The buyer sent four blank Postal money orders totalling X amount of dollars (the customer did not disclose the merchandise for sale nor the negotiated purchase price) in an envelop with no return address and the only contact information was a Yahoo email account. Merchandise has not been shipped yet, as the I was very suspicious of the money orders. An email was sent stating that the buyer had 'accidentally' sent too much money and wondered if I could wire the difference back to the buyer."
Suspicious activities...
1) 4 Postal Money orders were sent instead of one.
2) The total amount of the Money Orders were well over the amount agreed upon.
3) No return address, no verified contact information other than a compromised Yahoo email account.
4) The buyer wanted the difference returned through a different payment gateway.
The seller (a customer of the institution I work at) brings the money orders in and inquires about them, turns out they are forged. The Postal Money Orders look too perfect, the printed ink did not stand out, there was no embedded watermarked face where it should be, and to an official number was called to verify the authenticity of the negotiable instrument, negative response made the out come more clear. Some one was attempting to scam the seller.
I know this is all probably common sense, but because it is so common, it is also easily overlooked. So sellers beware.
Other tips to know.
1) Your bank can verify all Postal Money Orders and Cashier/Teller/Official Checks from other banks. Postal Money orders can only be verified in a limited time from though, from 48 hours to 90 days of purchase.
2) The dollar range of the scams is most commonly between $2000 and $4900. Most banks are required to hold any check or combination of checks/money orders 5 extra business days on the amount that exceeds $5000.
example - If I deposit $5001 total from checks, that extra $1 is held 5 extra business days. Official/Cashiers/Teller checks from reputable banks are available next day as per Federal Law, thus they are most commonly used in scams.
3) Postal Money Order Scam alert.
4) Better to be safe than sorry, unless you are selling to a trusted buyer, do not send out merchandise until after payment has been successfully received.
"I was selling some merchandise on Craig's List (a well known internet site for all things) and found a buyer. The buyer sent four blank Postal money orders totalling X amount of dollars (the customer did not disclose the merchandise for sale nor the negotiated purchase price) in an envelop with no return address and the only contact information was a Yahoo email account. Merchandise has not been shipped yet, as the I was very suspicious of the money orders. An email was sent stating that the buyer had 'accidentally' sent too much money and wondered if I could wire the difference back to the buyer."
Suspicious activities...
1) 4 Postal Money orders were sent instead of one.
2) The total amount of the Money Orders were well over the amount agreed upon.
3) No return address, no verified contact information other than a compromised Yahoo email account.
4) The buyer wanted the difference returned through a different payment gateway.
The seller (a customer of the institution I work at) brings the money orders in and inquires about them, turns out they are forged. The Postal Money Orders look too perfect, the printed ink did not stand out, there was no embedded watermarked face where it should be, and to an official number was called to verify the authenticity of the negotiable instrument, negative response made the out come more clear. Some one was attempting to scam the seller.
I know this is all probably common sense, but because it is so common, it is also easily overlooked. So sellers beware.
Other tips to know.
1) Your bank can verify all Postal Money Orders and Cashier/Teller/Official Checks from other banks. Postal Money orders can only be verified in a limited time from though, from 48 hours to 90 days of purchase.
2) The dollar range of the scams is most commonly between $2000 and $4900. Most banks are required to hold any check or combination of checks/money orders 5 extra business days on the amount that exceeds $5000.
example - If I deposit $5001 total from checks, that extra $1 is held 5 extra business days. Official/Cashiers/Teller checks from reputable banks are available next day as per Federal Law, thus they are most commonly used in scams.
3) Postal Money Order Scam alert.
4) Better to be safe than sorry, unless you are selling to a trusted buyer, do not send out merchandise until after payment has been successfully received.
