Fraud is on the rise. The Federal Trade Commission says it received 2.8 million fraud reports last year totaling more than $5.8 billion in losses, a 70 percent increase from 2020.
In each case, the fraudster’s goal is to get an unsuspecting individual to send or transfer money to them. One tried and tested method is the fake check scam. The scam works because it exploits a loophole in banking policy.
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