The Financial Industry Regulatory Authority (FINRA) has recently received
an increasing number of reports of people receiving unexpected checks,
sometimes from organizations with names of objects found around the home.
Their recommendation to anyone who received an unexpected check: don’t
cash it – chances are that it’s counterfeit.
In some cases, the check will have real routing and account numbers on
it, along with the name of a legitimate company. In this case, the scam
will include instructions to immediately transfer a percentage of the
money to another account so when the bank flags the check as a counterfeit
you will be on the hook for the money you transferred away.
In other cases, the check will be delivered to your door in a method that
requires your signature, like by registered mail. While instructions may
not accompany these checks, FINRA suspects that after it’s deposited
the fraud target will become further entangled with the scammer. Your
endorsement could give the scammers more information about you and your account.
Our securities fraud attorneys at Meyer Wilson are committed to providing
victims of fraud with the experienced legal representation they need to
recover their losses. If you were the victim of fraud, call us at one
of our office locations or
send us your information through our online form to start out with a free