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Consumer Fraud Scam Puts Company at Risk for Months
Savvy Bank started receiving calls from consumers and banks that had received checks appearing to be from Proactive Company, which is a legitimate Savvy Bank customer. The checks were counterfeit and were being sent to consumers as payment for goods being sold on an online auction site. The checks were printed for amounts significantly higher than the price of the goods being purchased and usually arrived via overnight mail with instructions to deposit the checks and send a portion of the difference to a third party, minus an “inconvenience fee,” via a retail money transfer service.
Savvy Bank started receiving calls from consumers and banks that had received checks appearing to be from Proactive Company, which is a legitimate Savvy Bank customer. The checks were counterfeit and were being sent to consumers as payment for goods being sold on an online auction site. The checks were printed for amounts significantly higher than the price of the goods being purchased and usually arrived via overnight mail with instructions to deposit the checks and send a portion of the difference to a third party, minus an “inconvenience fee,” via a retail money transfer service.
