More news on the counterfeit checks
mrearlygold
Posts: 17,858 ✭✭✭
Banks cannot protect you from counterfeit checks
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By Ian Katz
South Florida Sun-Sentinel
Posted February 19 2006
On Dec. 23, the South Florida Sun-Sentinel published a story describing how Tennenbaum wired the cash in exchange for traveler's checks and money orders that she later learned were counterfeit. At the time, Tennenbaum feared that she might be unable to pay her bills and the rent on her apartment.
Here's the background: In November, a man Tennenbaum had met in an online dating site asked her to help him with a seemingly simple transaction. He would send her checks and money orders he couldn't cash in Nigeria, where he was living.
Tennenbaum, who is divorced, had never met the man, but they had been chatting online several times a week for two months, and she considered him a friend. It never occurred to her that he was a fraudster working her over as part of an increasingly common counterfeiting scheme.
She deposited the MasterCard traveler's checks and U.S. Postal Service money orders into her Citibank account and sent him the cash via Western Union. Eight days later, she found out that the checks and money orders were phony. Citibank said she owes it $9,200, and seized about $1,800 of that from paychecks and other funds in her account.
Banks will not protect you on counterfeit checks
.
By Ian Katz
South Florida Sun-Sentinel
Posted February 19 2006
On Dec. 23, the South Florida Sun-Sentinel published a story describing how Tennenbaum wired the cash in exchange for traveler's checks and money orders that she later learned were counterfeit. At the time, Tennenbaum feared that she might be unable to pay her bills and the rent on her apartment.
Here's the background: In November, a man Tennenbaum had met in an online dating site asked her to help him with a seemingly simple transaction. He would send her checks and money orders he couldn't cash in Nigeria, where he was living.
Tennenbaum, who is divorced, had never met the man, but they had been chatting online several times a week for two months, and she considered him a friend. It never occurred to her that he was a fraudster working her over as part of an increasingly common counterfeiting scheme.
She deposited the MasterCard traveler's checks and U.S. Postal Service money orders into her Citibank account and sent him the cash via Western Union. Eight days later, she found out that the checks and money orders were phony. Citibank said she owes it $9,200, and seized about $1,800 of that from paychecks and other funds in her account.
Banks will not protect you on counterfeit checks
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
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Comments
Stuff like that always makes me think of the line "you can't cheat an honest (wo)man"
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How can they attach a paycheck- without a judicial decision- as in judgement. if I'm not mistaken- they can't just pull the money out without a notification of such action.
she amy not be protected by the bank- but she could be protected by our government- tell her to call her congressman and senator and get to work- they work for her, and this is something that they should look into.
<< <i>He would send her checks and money orders he couldn't cash in Nigeria,...... >>
Ding, Ding, Ding, Ding!
I had the same emails from the guy. After watching a show on T.V where there are billions of dollars that are unclaimed every year. I decided to give it a second thought. The email I got was stating that it was unclaimed money and they needed a U.S account. I answered them just to hear more about it. Seemed to good to be true so I never replied back.
<< <i>A few readers wanted to know whether the bank could put a "hold" on the checks and money orders until it could verify their legitimacy. However, the federal Expedited Funds Availability Act of 1987 requires banks to make the first $5,000 of traveler's check and money order deposits available by the next business day. The remainder of the money can be held for up to nine business days. >>
So why did they make the entire $9,200 available the next day? If they had placed the hold on the $4,200 overage she would have had to wait for it to clear before she went to Western Union. (Of course if they start dong that the scammers will just send say $4,700 at a time to get around the waiting period.
From the description in the article the checks and money orders were not even good fakes. As they say a "well schooled" teller would have spotted the fakes, but most tellers are not "well schooled" when it comes to coins and currency let alone money orders and travelers checks which can come from many different issuers and printers.
Still this scam has been around for at least a couple of decades and it has been reported on hundeds of times. I worry tabout a schoolteacher that is so uninformed.
hi, i'm tom.
i do not doctor coins like some who post in here.
<< <i>but she could be protected by our government- tell her to call her congressman and senator and get to work- they work for her, and this is something that they should look into. >>
Hold on, hold on, let me catch my breath....
PCGS, ANACS, & NGC Certified Coins on My Website.
<< <i>Banks cannot protect you from counterfeit checks
Here's the background: In November, a man Tennenbaum had met in an online dating site asked her to help him with a seemingly simple transaction. He would send her checks and money orders he couldn't cash in Nigeria, where he was living.
>>
Well......DA...........
<< <i>Id 10 t error. >>
?????????????
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire