SeeinStars
+1y
I have received ALOT of these lately.
Overpayment Scams Target Online Sellers The Internet has become a very popular and relatively simple way for ordinary people to buy and sell items and services of every description. Unfortunately, con artists have found ways to capitalize on the popularity of online selling. One method that scammers use to prey on those who sell online is a scheme involving an apparent overpayment for an advertised item or service. There are a great many variations of these overpayment scams, but, typically, such scams work like this: A seller places an Internet advertisement for a particular item or service. The item or service is generally something with a fairly substantial price tag. Later, the seller receives a generous offer for the item, usually via an email. The seller agrees on the price, and, often, also agrees to the proviso that he or she refuses any other offers for the item. The scammers then send a cheque for the item. However, the cheque is for substantially more than the specified amount. The scammers invent some excuse for this overpayment and ask that the balance be electronically transferred to a specified bank account. For example, they may claim that the extra funds are to pay the fees of an agent, who is handling the sale, to cover third party shipping costs, or to settle an unrelated debt. Usually, the scammers will claim that the transaction needs to be completed urgently. The seller dutifully transfers the amount out of his or her own funds. Later, the seller finds that his or her bank has dishonoured the cheque. In some cases, the bank may actually have cleared the funds, but discovers later that the check is a forgery or was stolen. Thus the seller has been bilked out of a substantial amount, with little chance of recovering the money. Furthermore, the item remains unsold and the seller may have rejected legitimate offers in the mean time. In some cases, the scammers may also attempt to trick victims into revealing sensitive personal information. If the scammers can collect enough information they may then be able to steal the victim's identity. To protect yourself against this sort of scam, never agree to a deal in which the payer wishes to issue an amount for more than the agreed price and expects you to reimburse the balance. The scammers use a variety of excuses to explain the overpayment, but any such excuse should be treated with the utmost suspicion. It is very unlikely that any legitimate buyer would conduct business in this way.