Channel3000.comMoney


Beware: Nigerian Check Scam Strikes Again

Victims Cash Bogus Checks, Mail Money Overseas

POSTED: 11:57 a.m. CDT May 18, 2004
UPDATED: 12:44 p.m. CDT May 18, 2004

A decades-old scam has a new face and is targeting a new group of people. The Nigerian check scam is focusing on Internet sellers.

 SURVEY
Have you ever been the victim of an Internet scam?
Yes
No
Kirk McFate was selling his Porsche online when he said a potential buyer offered him the $7,500 asking price. The buyer mailed him a check for $14,000 with the catch that he was supposed to cash the check and wire back the difference.

Carolyn Schultz ran across the same scam selling her horse. Both sellers realized the checks were fake, but many people don't.

"People have taken the check and asked the bank if it was a legitimate check, and (the bank) said, 'Yes.' Then after the check bounced, the bank made the consumers pay the money back," said Glen Loyd of state Consumer Trade and Protection

The U.S. Secret Service Financial Services Division takes 100 calls a day on the Nigerian check scam. It's one of the top 20 scams in the country.

If you've lost money or even received correspondence about depositing money into an account, and then sharing or "reimbursing" someone overseas, you should go to the Wisconsin Trade and Consumer Protection Web site and file a complaint or call (800) 422-7128.




Housing Crunch

With banks and lenders facing major troubles, gain some insight on how to sell, refinance or keep your home. You'll find everything mortgage in our special section. More Details


Stock Quotes

GET A QUOTE
Enter Symbol

Credit Center

The Average US Credit Score is 693. What's Yours? See it Instantly Online for $0. By Experian®
Experian

Best Local Rates On...


More Money

The Dow rallies in the final hour of trading to close nearly 500 points up and over the 8,000 mark. More Details
Save Money

Funding for a pilot project putting a taxi stand downtown after bar time is about to run out. The city has been courting donors in an effort to keep the project alive. More Details
VIDEO: Watch The Report


E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters