Grand Junction-based bank offers advice to prevent scams involving fake checks

First National Bank of the Rockies based in Grand Junction offers advice to help people prevent scams involving fake checks.

While there are many variations to the scam, a stranger proposes to send the victim a check and have the victim wire money in return. The stranger may offer to buy something advertised for sale, pay for work at home or offer an advance on sweepstakes winnings.

“Regardless of how the contact is initiated, the bottom line is this: If someone you don’t know wants to pay you by check but wants you to wire money back, it’s a scam,” said Pete Waller, president and chief executive officer of First National Bank of the Rockies.

Technology enables scam artists to create fake checks that are difficult even for experts to identify.

To avoid such scams, the bank advises people to wait until a check has cleared before spending the money. People also should insist on payment in the exact amount by cashier’s check, preferably one from a local bank or a bank with a local branch.

First National Bank of the Rockies operates locations in seven Western Colorado communities. For more information, visit www.fnbrockies.com.

The Business Times has served as the definitive source for Grand Junction business news since 1994. The journal offers news, views and advice you can use twice each month in print with daily updates online at www.TheBusinessTimes.com
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Posted by on Nov 24 2010. Filed under Business Briefs. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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