Press Release

Caution: Overpayment Internet Scam

The Federal Trade Commission reports that "check overpayment" scams are the fourth most common scam on the internet today. Typically, the person you are doing business with sends you a check for the price of a horse advertised online that's more than the amount they owe you. They tell you to deposit it, keep part of the amount for your own compensation, and then wire the rest to a shipper. The results are the same: the check eventually bounces, and you're stuck, responsible for the full amount, including what you wired to the scammer. The FTC offers the following tips for avoiding the check overpayment scam:

• Know who you're dealing with - independently confirm your buyer's name, street address, and telephone number.
• If you're selling something over the Internet, say "no" to a check for more than your selling price, no matter how tempting the plea or convincing the story.
• There is no legitimate reason for someone who is giving you money to ask you to wire money back.

More advice on how to be on guard against Internet fraud is available at OnGuardOnline.gov. Consumers are asked to report check overpayment scams to their state Attorney General, the National Fraud Information Center/Internet Fraud Watch, a service of the National Consumers League at www.fraud.org or 1-800-876-7060, or the FTC at www.ftc.gov or 1-877-FTC-HELP.

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