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SCAM ALERT – Counterfeit Checks

We have been made aware of a scam involving counterfeit checks. Some members have received these counterfeit checks appearing to be from Jeanne D’Arc and other local Credit Unions. Check recipients are being instructed to deposit these checks via the ATM, and if questioned, to say they are to pay for a student loan. When these deposited funds become available, they are then instructed to send the funds out via a mobile app, where they will be “invested” in Bitcoin. This is a scam. Instead of your money being invested, it will go directly to the scammers.

If you receive a suspicious check or if you feel you have been a victim of this scam, please reach out to our Member Contact Center, 978-452-5001, and they can assist you.

Always be mindful of cashing checks from people you do not know, and take the necessary precautions to keep yourself safe from these types of scams.

Know the Facts: Depositing Counterfeit Checks

What are the consequences of depositing a fake check?

The severity of the consequences will depend on multiple factors — including whether you were the victim of check fraud or knowingly deposited a bogus check.

  • Victims can lose thousands of dollars and may have to pay costly bank fees or penalties, and law enforcement may be involved.

What happens if I deposit a fake check?

  • You may be able to withdraw the check amount, but that doesn’t mean the check is legitimate.
  • Once the check is returned, the check will bounce, and you’ll likely be responsible for repaying the credit union the amount of the faked check.

What are the consequences of depositing a fake check?

If you knowingly participate in a scam that involves a fake check, the Credit Union is obligated to notify the police.

  • You may be responsible for repaying the entire amount of the check.
  • You may have to pay overdraft fees.
  • The credit union can close or freeze your account.
  • It can damage your credit.
  • You may have to pay late fees.
  • It can affect your banking history.

Can I go to jail for depositing a fake check?

  • Going to jail for depositing a fake check may sound severe, but it can happen.
  • If you knowingly deposited a fake check, you might face fines and jail time.

How can I protect myself from fake check scams?

  • Verify the check with the bank.
  • Check the amount.
  • Don’t send money.
  • Wait until the check is verified.
  • If it seems too good to be true, it is.

What to do if you’ve been a victim of check fraud

If you believe you are a victim of check fraud, take action right away to protect yourself. Contact the Credit Union at 978-452-5001 or visit a branch for assistance.


Source: CreditKarma.com 10/12/21