Counterfeit Cashier's Checks

Counterfeit Peoples Bank Checks in Circulation

Peoples Bank counterfeit Cashiers Checks continue to be in circulation and are appearing across the United States. The majority of the checks claim to be from sweepstakes winnings. Please use the checklist below if you suspect you have received one of these checks. If you have received a counterfeit check you are encouraged to contact Customer Care at 800-374-6123 or your local office for additional information.

Indications of Fraud:

The check was issued for sweepstakes winnings, from companies such as Reader's Digest and Publishers Clearinghouse through their online sweepstakes database and internet users.
The information originated outside of the US, for example the address indicate the check was issued or mailed from Canada or another country.
If the letter you received with the check instructs to you to contact an agent on how to cash the check.
The phone number on the check is something other than 800-374-6123.
You are instructed to deposit a check at your bank and wire or send money back to cover fees, taxes, or legal expenses.
You are asked to send your personal bank information over the Internet, phone or mail.
As the saying goes, if it sounds to good to be true, it probably is.

Should you receive one of these checks please contact Customer Care by phone or email or bring the check into your local office along with any documentation received to have the check examined to see if it is legitimate.

Common Scams

Selling Goods - You sell goods, for example, over the internet, the buyer sends you a cashier's check for the price of the merchandise. You ship the goods to the buyer and the check turns out to be fraudulent.

Excess of purchase price - This is similar to the scam above, only when the buyer sends you the cashier's check it is issued for more than the purchase priced agreed. The buyer asks you to wire some or all of the excess funds to a third party, often in a foreign country. The cashier's check also turns out to be fraudulent.

Unexpected Windfall - You receive a letter stating you have won a foreign lottery or are the beneficiary to someone's estate. The letter usually states that in order to collect your winnings you will need to deposit the cashier's check and wire a portion of the funds to cover a processing fee or transfer tax. The cashier's check also turns out to be fraudulent.

Mystery Shopping - You receive a letter stating you have been chosen to act as a mystery shopper. The letter includes a cashier's check and tells you to deposit the cashier's check. You are told to make purchases at specific stores, wire a portion of the funds and keep the remainder as payment. The cashier's check also turns out to be fraudulent.

Please keep in mind if you accept a fraudulent cashier's check and deposit it at your bank, the check will be returned unpaid. Your bank will then debit your account for the amount of the cashier's check and you will be held liable for the merchandise and transfer of funds. In some cases it may take several weeks to discover that a check is counterfeit.

Tips to avoid Cashier’s Check Fraud

Know the people you transact business with. When possible verify information about the buyer. Use caution when accepting checks from individuals you do not personally know.
When selling goods online, consider options such as escrow services or online payment systems.
If you do accept a cashier's check for payment never accept the check for more than the purchase price agreed on. When accepting cashier's checks, ask that it be drawn on a local bank. If the buyer wants to provide a check for more than the purchase amount, consider asking yourself, "why would this person trust me with funds that belong to a third party?"
Call the bank the check is drawn on to verify it is legitimate
Be aware that your bank may place a hold on the check if they have reason to believe it is fraudulent. Even if your bank does not place a hold on the cashier's check, it may still be returned several weeks later.
Be suspicious if someone insists that you wire or transfer funds before the check has had time to clear.
Remember the saying "if it sounds to good to be true it probably is."
Reject offers that instruct you to pay for prizes or gifts, such as processing fees.

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