<VV> Scams are fun but don't send ANY $$$ ! (No Corvair)

[airvair at earthlink.net]

The BIG problem with checks, as you point out, are the readable account and
routing numbers on the bottom of each check and deposit slip. It makes
checking accounts HIGHLY vunerable, more so than even a credit card, to
theft.. All any thief has to do is write down those very visable numbers,
and then go to town. They don't even have to steal a check, because
(especially with internet shopping) they can simply use those numbers to
charge up a storm, faster than you can stop it all. It's why I frequently
and periodically check my bank account online. And anyone who has any kind
of bank or charge account should watch their accounts very, very closely.

If the people running the banking system had any sense to them, they'd
replace those visable numbers with a bar code and have NO (humanly)
readable numbers whatsoever on checks. (And maybe credit cards, too.) But
then, that's too rational an idea.

-Mark

> [Original Message]
> From: Marc  Marcoulides <hharpo at earthlink.net>
> Subject: Re: <VV> Scams are fun but don't send ANY $$$ !
>
> Charles Wrote: This works because banks can "clear" the original check in
YOUR account, making you feel that you actually got the money, and then
pull the money 
> back out weeks later, when they "change their mind" (claiming int'l check 
> takes longer to verify)
>
> I am going to comment on this because I am an Insurance Agent but the
agency I work for is owned by a credit union and we work closely together.
The operations staff work very hard in an effort to prevent depositors from
loss. What frustrates the effort is the scam artist who uses the real
account numbers along the bottom of the check from a real company check of
someone out there and then creates a check with his name on it. It clears
and then the company or person later sees it is not thier check. Since the
real person did not sign that check the bank where it was deposited must
take it back and if your account has money in it the amount of the check
will be subtracted from the balance. Of course by then it is too late and
you have been taken. Some of these checks can be spotted others can not,
when there are a volume of these in one localaty alerts are broadcast to
assist in fraud prevention.
>