Seems simple enough…but it’s a scam. You have been sent a bad check, and once the bank figures it out, you will be on the hook for the total amount plus any penalties. Meanwhile, the scammer is off celebrating with the illegitimate funds you wired. The Wisconsin Department of Agriculture, Trade and Consumer Protection recently heard about a consumer who was in this situation, but recognized it as a scam and contacted the police. Because it can take a couple of days for a check to clear after it has been cashed, victims often do not realize that they have been scammed until well after the excess money has been wired away. In the meantime, they may have also spent a portion of “their share.” As with any other scam involving wire transfers, once the money has been wired and picked up, it is gone for good.
Remember some simple tips to avoid falling prey to a check cashing scam: There is no legitimate reason for someone who is giving you money to ask you to wire it back. The checks in these scams are fakes, but they look real. This can lead to the delay time between when a victim cashes a check and when the bank realizes that it is fraudulent.