Beware of Business to Business Scam

The #1 fraud scam* in the US is the fake/forged check. And it's always some variant of this: Receive a check, deposit it, make a check from your account and send it to the fraudster.

Instead of dying out because every Craigslist buyer has "heard that one before", this scam is gaining traction in the B to B market. And for much larger dollars. The average consumer scam of this type is a few thousand dollars. Today, business owners are being scammed out of tens or even hundreds of thousands with this scam.

How the scammer targets your business:

1) A caller from out of your geographic area requests professional services from you. Say you are a web developer or an attorney. The caller may even be a referral from a legit professional (who isn't aware of the scam).

2) You receive a check from the scammer. You deposit it in your business checking account. Your bank may allow you to immediately wire those funds out. Or, even in the case your bank holds the funds, you may have other "collected" funds that can be wired out. The scammer convinces you to write them a check (under some pretense). You are out the money. The check is a fake.

Prevent this fraud with a few simple steps. Even if you do some research and feel comfortable, keep in mind, these high-stakes scams can be elaborately developed. Trust, but verify. Contact your bank and request to be notified when the check is collected. When in serious doubt, contact your lawyer or financial service provider.

*According to the National Consumers League, founded in 1899