NCUA warns of fake check scams

Consumers should be on the lookout for fake check scams, the National Credit Union Administration warned after receiving numerous inquiries from consumers. Credit union employees can be vigilant in helping spot such fraudulent checks. Scammers lure consumers into depositing a cashier’s check, money order, or other checking instrument from someone that they don’t know and […]

Consumers should be on the lookout for fake check scams, the National Credit Union Administration warned after receiving numerous inquiries from consumers. Credit union employees can be vigilant in helping spot such fraudulent checks.

Scammers lure consumers into depositing a cashier’s check, money order, or other checking instrument from someone that they don’t know and wiring or sending money to the scammers. A check may take considerably longer to clear the financial institution that issued it before the funds can be collected. It could take days or even weeks to discover that the deposited check was fraudulent. Typically, the financial institution will not cover the financial loss and expects the victim to pay the difference.

The Federal Trade Commission also recently issued a fake check scam alert. Fake checks can be hard to recognize and may be printed with the names, addresses, and logos of legitimate financial institutions.

Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.