Counterfeit Cashier’s Checks

From time to time, Malvern Bank is made aware of situations that may pose a risk to our customers. Other Banks have reported circulation of counterfeit cashier’s checks. The checks are realistic and bear proper routing numbers. The cashier’s checks are being used as part of a “secret shopper” work-at-home scheme, which operates like this:

1. The victim responds to an offer to work from home, then receives a cashier’s check for several thousands of dollars.
2. The victim is instructed to deposit the check into his or her own account and to keep several hundred dollars as “payment.”
3. The victim then uses the balance to perform some assignment, which generally involves sending the balance of the funds to third parties via wire transfers through a large retail store’s cash transfer services.
4. By the time the illegitimate cashier’s checks are returned as fraudulent, the victim’s funds are gone.

Consumers who receive counterfeit checks can file complaints with the following agencies, as appropriate:   

• U.S. Department of the Treasury, Office of Inspector General (OIG) by telephone at 800-359?3898 or by visiting the OIG website.
• Federal Trade Commission (FTC) by telephone at 877-382-4357 or by visiting the FTC website.
• National Consumers League (NCL) by telephone at 202-835-3323 or by email. To file a fraud complaint, visit the NCL fraud website.
• Better Business Bureau (BBB).
• FBI’s Internet Crime Complaint Center (IC3) to report scams that may have originated via the internet.
• If correspondence is received via the U.S. Postal Service, contact the U.S. Postal Inspection Service by telephone at 888-877-7644; by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations Support Group, 222 S. Riverside Plaza, Suite 1250, Chicago, IL 60606-6100; or via the online complaint form.