Checks might seem like something from the past, but scammers often use fake checks in their crimes so they can exploit the time it takes for them to bounce. During that waiting period, scammers will ask you to act on those funds. But once the check bounces, any amount you acted on is gone. This tactic shows up in several scam types from fake job and work-from-home scams (the fake check is to purchase equipment from the “employer” or for you to wire or otherwise send funds to “vendors”), to a seemingly innocent overpayment you received where you’re asked to send part of the money back.

It’s important to know that, just because the check looks like it cleared, it doesn’t mean it has – it can take time for a bank to validate a check, but the federal rules are to make the amount available, usually within 24-48 hours. Use caution when accepting a check: ensure it is validated by your bank and reject seeming overpayments where you’re asked to pay back the overage to the sender.

Be a fraud fighter! If you can spot a scam, you can stop it. 

Report scams to local law enforcement. For help from AARP, call 1-877-908-3360 or visit the AARP Fraud Watch Network at aarp.org/fraudwatchnetwork. 

Need a scam prevention speaker for your group? Send an email to me@aarp.org.