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Hey College Students: Have you seen this Scam?

Hey College Students: Have you seen this Scam?
December 2, 2020 Marketing NJFCU
Fake Check Scams

Hey College Students: Have you seen this Scam?

December 2, 2020 by Ari Lazarus, Consumer Education Specialist, FTC

Scammers are targeting college students. In the last year, we told you about a car wrap scam and a COVID-19 scam hitting college students. Today, we want to tell you about a fake check scam.

In this one, a scammer posing as a professor sends you an email. It uses a college domain name and a format like [email protected]. The scammer offers you a part-time job, like personal assistant or dog walker. Then, the scammer sends you a check, asks you to deposit it, send some of the money to someone else, and keep the rest as payment. A while later, the bank realizes the check was fake and deducts the original check amount from your account. So, if you deposited a $1,000 check, they’ll take that back. But if you sent $400 to someone else, you’re now out $400 of your own money.

People report losing a lot of money to fake check scams. The median loss in 2019 was $1,988. That’s a lot of money for anyone to lose. But an FTC analysis published earlier this year showed that people in their twenties are more than twice as likely as people over 30 to report losing money to fake check scams.

 

Fake Check Scam FTC Infographic

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