Counterfeit Checks; Check Cashing Fraud
Here is an example, Eurocash.net, of a counterfeit check cashing fraud. In this case, the scammer uses the job websites, like Monster and Careerbuilder to find victims, then offer them a fake job, as a "transfer manager", "financial representative" or "payment processor" .
The victim is told that for legal or logistical reasons, the "company" needs a local representative to deposit check sin his bank account, then simultaneously MoneyGram or Western Union wire 90% of the money to the "company", keeping 10% "for your work".
Because a cashier's check is often used, a bank will typically release the funds immediately, or after a one or two day hold. Falsely believing the check has cleared, the victim wires the money as instructed.
Shortly thereafter, the victim's bank notifies him that the check was fraudulent, and the bank is holding the victim responsible for the full amount of the check, as well as possibly criminal charges for passing a counterfeit check.
There are a number of related scams, all that involve counterfeit checks. See:
Example of the scam email
My name is Shirley Freeman and I work for a company called EuroCash I found your resume on careerbuilder.com because we are searching for reliable professionals across the United States who are interested in a potentially lucrative partnership with an international firm.
EuroCash is a leading investition company in Latvia and we are currently expanding our operations in the United States. But because of various banking and legal restrictions, we are unable to open commercial bank accounts in every state. As such, EuroCash is recruiting partners to conduct simple banking transactions on our behalf.
The process is simple. If you were interested in becoming a US partner of EuroCash, you would sign an agreement that would make you an official financial representative of our company, able to accept invoice payments on our behalf. Instead of asking our American clients to conduct complicated international payment transactions (which are especially complex for Finland companies), we have them work with our partners to submit payments. You would then forward the payments to us, a simple transaction for an individual. EuroCash pays its partners a 10% commission on every transaction. In addition, we will take care of any incremental tax liability you incur. Depending on which state you are in, and of course on how good business is, your monthly commissions could be as high as $14,000 per month.
If you are interested in working with us, or if you want more information, you can contact me directly at my personal email address: email@example.com . I'll need your full name and mailing address so I can send you the contract and other paperwork necessary to get started.
I look forward to hearing from you soon.
And please let us know about any suspicious calls or emails you receive. We look for patterns so that we can alert the authorities and victims to new scams, before it is too late!