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Active Check Fraud Scam

December 16, 2022

After an internal investigation, it has been reported that people in the El Paso community are being targeted on social media, specifically on TikTok, and in person by an individual asking if they have or want to open a Raiz FCU account. The perpetrator requests to deposit multiple large sum checks into the account in order to withdraw a portion of that amount in return.

Raiz is urging the community to stay proactive and alert by being aware of common red flags to prevent becoming victims of this scam:

  1. Never share your debit card or account information with anyone, especially those you don’t know or just met.
  2. Do not accept any unsolicited checks.
  3. Verify the authenticity of any check with the issuing institution by immediately contacting them directly at the listed phone number on their website, not from other un-credible sources.

It is also important to understand the consequences of depositing a fake check1:

  1. The depositor is responsible for the entire check amount if fraudulent checks are deposited.
  2. You may be responsible to pay the overdraft fees, resulting from a bounced check.
  3. Negative balances on your account may impact your credit score.
  4. Unpaid balances will be reported to all credit bureaus.
  5. The financial institution may close or freeze your account if funds are not returned
  6. A police report may be filed and criminal charges pressed, if the full amount is not returned to the financial institution.

Raiz FCU is urging you to report any information related to this active check fraud scam in El Paso directly to the El Paso Police Department at 915-212-4000.

If you think you may have fallen victim to this or any other scam, report it to the Federal Trade Commission on their website at www.reportfraud.ftc.gov.

 

 

1Source: What are the consequences of depositing a fake check? Credit Karma,
Written by: Tretina, Kat, August 21, 2022,
https://www.creditkarma.com/money/i/consequences-of-depositing-a-fake-check

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