Be wary if you’re selling something and get a cheque worth more than the agreed amount.
The Upper Ottawa Valley OPP says overpayment fraud has surfaced in the area, with scammers sending phony cheques or bank orders for items sold predominantly online.
The scammer will send an amount more than agreed to, then ask for the seller to deposit it and send back the excess through a wire transfer.
Once that happens, the cheque is returned as counterfeit, and the seller loses out on both the amount on the cheque and what they sent back to the scammer.
Police say local vendors selling online should be wary of any deal involving a cheque or bank draft, adding that scammers will use a number of excuses for the overpayment, and any of them should be treated with suspicion.
Other tips the OPP has include:
- Know who you are dealing with; independently confirm the individual or company sending the payment, including their name, address, and phone number.
- Never accept payment for more than the selling price.
- Never agree to wire back funds to a buyer; a legitimate buyer will not pressure you to do so, and you have limited recourse if there is a problem with a wire transfer.
(written by Kasey Egan)