If you have become a victim to a counterfeit
cashier's check scam, please report it to the following:
I would suggest writing a detailed
letter including all of the facts, dates and times, and names and
addresses, that tells your story. You can then use this one letter
to submit or send your complaint to the places listed above.
You can also
read this blog post for more information.
Other Things To Do:
- Close any other accounts that you have at that
bank so they cannot freeze those accounts
- Turn off any direct deposits you have going
into that account
- Turn off any automatic payments or withdrawals
you have coming out of that account
- Open an account at another bank
Banking Terms to Know:
What "Clear" really means:
"The check has cleared" does not mean the money in your account
belongs to you. It only means that the clearing house has not sent
the draft back for non-sufficient funds, closed account, or flag
instructions on the account. It does not mean the draft was written
by the account holder.
Depending on the size or purpose of the account, the account holder
may not notice the absence of funds for several days after the draft
has reached his bank. In fact, an account holder may have up to one
full year to report an unauthorized draft.
Bank statements are usually sent out on the 1st or 15th of the
month. If the transaction took place near one of those dates, the
account holder may be unaware of the unauthorized transaction until
statements are sent out the following month and time is taken to
balance the statement.
What "Available funds" really means:
"Available funds" does not mean the money in your account belongs to
you, even if a hold has been taken off the draft.
When you deposit a check into your bank account, your bank advances
you the money for that check to keep the wheels of commerce moving.
Of the millions and millions of checks processed every day, a
relatively small number are returned because of a problem; because
of this, banks and credit unions must automatically credit depositor
accounts within a certain number of days.
A bank or credit union can make an exception to the rule and wait
for a longer period of time on any given deposit before crediting
the depositor account, but apart from such an exception the credit
This credit to your account is called a "provisional loan" and is
actually a no-signature loan from your bank to you. It does not mean
that your bank has been credited by the account holder bank.
The only time the money in your account really belongs to you is
when the check or money order has been HONORED, meaning your bank
has been credited (paid) by the account holder bank.
ALWAYS ask your bank if the draft has been honored and DO NOT TOUCH
THE MONEY until it has.
When in doubt about a draft, tell your bank to send the draft for
Some banks are starting to use the terms "The check is pending" when
the money has been deposited into the account, but the check has not
yet been honored.
Sending a draft for Collection:
When you send a draft for Collection, it means that your bank or
credit union will not put any money in your account until the draft
has been paid, i.e. your bank has received the credit from the
account holder bank.
Your bank or credit union will charge you a fee and give you an
approximate time before the draft is honored. This time period may
be as long as 6 to 8 weeks depending on the location of the account
Some banks and credit unions will provide the collection service
even if you do not have an account with them, so long as you pay the
used with permission of Annie McGuire at
You can find more information on this topic here
- Check any email address or phone number to see if they are owned
by a suspected scam artist.
aid for fraud victims
Information on Nigerian Scams using IP Relay services
Online Fraud Magazine
Internet Love Scams
Communications Enterprise For Information Sharing and
Starving Artist Law
• FDIC and OCC
• Our Story
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