BBB reports increase of fake check scams
The Better Business Bureau released a new investigative study that showed the number of fake check scams is on the rise, even though the actual use of checks decreased.
Michelle Gleba, BBB Columbia Regional Director, explained the findings of the report on Wednesday.
The report showed that the amount of fake regular checks, cashier’s checks and money orders reported doubled over the past three years, from 12,781 to 29,513, nationwide.
Gleba said those numbers are only the reported scams. She said the BBB believes there are closer to 500,000 victims of fraudulent checks, but a lot of victims don’t report the scams.
The report also breaks down who commonly becomes victim to a fraudulent check scam.
It said fake check frauds affect victims of all ages and incomes, but the Federal Trade Commission Consumer Sentinel complaint database shows that the largest age range for victims are people between 20 and 29 years old; and that lawyers, photographers and small businesses are more often victims of the scam.
The report also showed that less than 10 percent of the victims were 70 or older.
According to the BBB’s online scam tracker, about 30 people reported a fraudulent check scam in 2017. The majority of the victims didn’t lose money as a result, but three people lost a combined almost $2,000.
