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Scams - How Do They Work?

R

rickmoen

Member
Hello to All,

I've had several expensive items - motorcycles, audio equipment, etc - for sale on Craigslist. It seems like about half the time I'll get a reply agreeing to pay my asking price without any of the expected negotiating. There is always a reason that they can't meet me in person with the cash, but they will send me a cashiers check for my price. After the check supposedly clears, their representative will come to pick up the item. I know this is a scam, but I'm missing how their check is bad. Can anyone enlighten me?
Thank you in advance!
 
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The basis is just because the bank puts the money in your hand or in your account immediately doesn't mean the check has cleared.

Some period of time later when the bank tries to get the funds from the issuer and finds out it's worthless, you are already out the item, the perp/scammer is long gone, and now the bank wants their money back from you too.
 
OK, I think I get it. I'll bet the buyer's representative arrives early to pick up the item. Any idea how long after the check is deposited and the bank realizes it is worthless? Why does a bank issue a cashier's check without the funds to cover it? Sorry for being so naive.
 
The cashiers checks are often faked or stolen. Scammers will even go so far as to set up a burner phone and have the "bank" telephone number go straight to that phone. So when you call the "bank" to confirm the check is real, a "bank employee" will assure you it is genuine. All you need is a scanner/copier, a computer, a real cashiers check from any bank, and a copy of Photoshop. With those things you can easily fake a new cashiers check for any amount you want.
 
If the fake check is sent via US mail, the scam becomes a federal crime that does get pursued, if reported. Mostly, they never come get the item. What they want is the extra cash they included in the check, for various reasons (shipping packing, etc.)

Just tell them that you will wait for the check to actually clear, before proceeding. They will move on.

Rich P
 
I told the last one that I needed an in person meeting with cash only and never heard any more. Thank you for helping my understanding.
 
A twist sometimes used is to send "overpayment", on purpose or by accident. You are then asked to use the overage for shipping OR return the overage when their shipper/shipping agent come to get "the item" (it's almost always "the item" since they respond to so many listings it would take too much time to use the proper item name like Marantz 2270 or Pioneer SX-1050. So their form responses just state " the item".
Is "the item" still available? I will pay your asking price for "the item"...etc
Anyways, they then steal your "item" plus the "overage" you refunded them which ends up coming out of YOUR POCKET since the check was phony to begin with.
 
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I miss living in a small town where you only deal face to face and everyone in town knows who the swindlers and criminals are. Been shopping for a home in a small town the last 4 months, hope to complete that move within next year or two.
 
Many years ago, cashier's checks were considered the "gold standard" for private owner car purchases.
Seems like they were embossed for security?...
Apparently, those days are gone forever.
When I sold my MGB several years ago, I insisted on cash. The buyer was irritated but oh well...
 
OBMG74 said:
Many years ago, cashier's checks were considered the "gold standard" for private owner car purchases.
Seems like they were embossed for security?...
Apparently, those days are gone forever.
When I sold my MGB several years ago, I insisted on cash. The buyer was irritated but oh well...
Click to expand...


Some sellers use those pens that can show if it's "real" cash in situations like that.
Sadly those pens will also indicate that washed/bleached bills are "real".
So many scams now days...
 
OBMG74 said:
Many years ago, cashier's checks were considered the "gold standard" for private owner car purchases.
Seems like they were embossed for security?...
Apparently, those days are gone forever.
When I sold my MGB several years ago, I insisted on cash. The buyer was irritated but oh well...
Click to expand...

If I'm making a purchase of more than a few thousand I'll ask the seller to come to the bank with me.
I belong to one of the major banks so there's going to be a branch somewhere nearby and getting a cashiers check only takes a few minutes. That's safer for both of us as I don't have to carry a sack of money (with a big dollar sign on it of course) to a strangers house and they will be right there when the check is struck which rules out a fake.
 
rickmoen said:
Hello to All,

I've had several expensive items - motorcycles, audio equipment, etc - for sale on Craigslist. It seems like about half the time I'll get a reply agreeing to pay my asking price without any of the expected negotiating. There is always a reason that they can't meet me in person with the cash, but they will send me a cashiers check for my price. After the check supposedly clears, their representative will come to pick up the item. I know this is a scam, but I'm missing how their check is bad. Can anyone enlighten me?
Thank you in advance!
Click to expand...

Scammers prey on reachable consumers with preconceived notions about the way things work or get done. They know most persons are savvy to their ways, they are trying to "reel-in" the 5% minority :dunno:.

This group is all they need to make millions, per day, per geographic zones. Unfortunately, there are a lot of enablers as well whether they be poor management of websites for commerce or associate or non-associated social forums that share your personal :deal: info behind your back.

It is epidemic :eek: and also includes the mass dialings everyone gets at their home or on their smartphones, totally intrusive and mostly unwanted!

What can be done about it? .. Mostly nothing because of the complicity involved :wtf:
 
petes'picks said:
I miss living in a small town where you only deal face to face and everyone in town knows who the swindlers and criminals are. Been shopping for a home in a small town the last 4 months, hope to complete that move within next year or two.
Click to expand...

Many years I went to a store in a small town where the store owner laid out a good portion of his merchandise outside unattended. Buyers would pick up what they want and then pay inside the store. I assume much of that has changed now and with the virus driving many out of big cities I expect changes to accelerate in small towns.
 
This sort of thing is why I always expect cash, with no exceptions. I mention that in every add that I have where I'm selling something.

It really is unbelievable to me though how flaky buyers can be. I'll constantly have folks asking me if I'll half the price of an item that's already on the very low end of what I see it selling for online. Or they'll ask me a lot of questions about the condition and even when I say that it's perfect and have photos to show that, they'll pass on it... or back out the day that they schedule to pick the thing up, or just not show up with no explanation, or try to trade me stuff when my add clearly says "not interested in trades" etc... In can be a lot of work to sell stuff, but at least if you're only excepting cash you can't be ripped off...
 
I've been selling a lot of stuff recently. Got one reply where the person wrote a few sentences asking about the item (speakers) and asked me to call them (local number) for more details. No answer, no voice mail. Next thing I know I'm getting robocalls. :rant:
The next item I listed I got the identical reply to. Worthless scumbags.
 
reggaenaut said:
Many years I went to a store in a small town where the store owner laid out a good portion of his merchandise outside unattended. Buyers would pick up what they want and then pay inside the store. I assume much of that has changed now and with the virus driving many out of big cities I expect changes to accelerate in small towns.
Click to expand...

I've lived in a few rural areas in my life, mostly in Iowa. I do remember what you describe.
I also remember when crack\meth addiction hit. You couldn't keep anything that wasn't nailed down out in the rural areas. Every single vacant house was stripped of all copper and then trashed. Farmers had huge problems with AHA being stolen. Leaving the keys in a vehicle on your property, it was gone.
Ya, a big change, IMO.

EDIT: Come to think of it, it was a local cop who bought my off-road rig. Had some big (probably true) sob story about his cancer, financial difficulties, so I cut him some slack and let him take the rig before he could pay it all off. He stiffed me $500 (out of $5k) on that rig.
So it's not just remote scams, local people can rob you as well.
 
You could always open up a checking account with the express purpose of having money wired into that account. Or, require payment in person with cash or perhaps, via Postal Money Orders? I'm not sure how easy it is to counterfeit those.
 
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