ABA Foundation, FTC Release Infographic on Fake Check Scams

The American Bankers Association Foundation and the Federal Trade Commission today released an infographic to help consumers recognize and understand the growing trend of fake check scams. This form of check fraud often involves a scammer sending a bad check to a victim and then asking for some of the funds to be returned. After the money is sent back, the scammer’s original check bounces.

“Chances are you’ve been the target of a fake check scam,” said ABA Foundation Executive Director Corey Carlisle, noting that fake checks might be used in a prize scam or an online purchase. “The fraudsters are sophisticated and convincing, and while their scams may vary, there’s one constant: check fraud.” The infographic — which banks are invited to share with their customers and on social media channels — includes tips to prevent check fraud.

In conjunction with the release of the infographic, ABA SVP Nessa Feddis will participate in a press conference tomorrow hosted by the Better Business Bureau of Chicago to mark the release of a new national study on fake check scams. Feddis will be joined by representatives from the FTC and the U.S. Postal Inspection Service, along with Illinois Attorney General Lisa Madigan. “Both the infographic and the Better Business Bureau study are part of an ongoing effort by the banking industry, the government, and consumer advocacy groups to educate consumers about scams that involve fake checks,” said Feddis. “If something doesn’t seem right, trust your gut and talk to your banker.”