Friday, December 14, 2007

Additional Timeshare Scams

The Overpayment Scam
The essence of this scam is that a purported renter or buyer sends you a cashier's check for more than you agreed on and has you wire the difference back. Some time later, however, the bank discovers the check was counterfeit and holds you responsible for the entire amount.

U.S. Postal Service tips:

Be skeptical of anyone asking you to wire money to overseas bank accounts, or to cash money orders or checks, on their behalf.
Know who you're dealing with—never give out personal or financial information to anyone you don't know.
Familiarize yourself with postal money order security features.
Never accept money orders or checks for more than the selling price.
Never agree to wire funds to a buyer—legitimate buyers won't pressure you to do so, and you have limited recourse if there's a problem.
Never wire funds to anyone unless you're sure the money order or check they gave you was cleared by your bank and the funds released

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