Bouncing Money Order

Fake Money Orders Fool Business March 18, 2013 By: Jenifer McAndrews

International con artists are now targeting small business owners with a scam that could add up to big money. This scam began with an e-mail order for fliers and business cards--sent to a Minuteman Press store. Everything appeared to be legitimate until the payment arrived. They received a Postal Money Order and it was for more than what it should have been. Owner Steve Schaefer was told part of the payment was for the printing expenses and the other for business expenses for the person picking up the order. They asked Schaefer to go to the bank, deposit it, and send the balance to his partner. Schaefer did that and a few days later checked his bank account. The money order had bounced. The conman even sent a second money order and was about to try the same scam. But, by then, Schaeffer was on to him.
How to avoid being a victim of this scam? If it's a Postal Money Order, go to the Post Office and ask them to look up the money order and find out if its legitimate."
Schaefer lost about $800. His advice: Check your bank account every few days. If Schaefer hadn't done that and discovered the money order had bounced - he could have ended up losing even more money.

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