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As economy worsens, fake check scams spread
1.3 million Americans have fallen for this trick, according to CFA report
10:33PM Monday Jun 01 2009 by MGD
...... According to a survey released Wednesday by the Consumer Federation of America (CFA), nearly a third of all adult Americans have been approached with fake check scams and at least 1.3 million have fallen for it.

“They didn’t realize the pitch and the check were both phony until they wired off the money,” says Susan Grant, CFA’s director of consumer protection. She says the average victim gets taken for between $3,000 and $4,000.

Sally Greenberg, executive director of the National Consumers League, puts the yearly loss at $20 to $60 billion a year. Her group runs the Web site fakechecks.org. “These are very persuasive scams that play on people’s vulnerability,” she says.

Here’s another reason so many people get burned by these counterfeit checks: They look legitimate. “They look so real your bank teller can’t always tell it’s a fake,” says Allison Southwick of the Better Business Bureau. ...........

Full story:

»www.msnbc.msn.com/id/30968506/

MGD

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