Scam on CraigsList??

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boater07
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Scam on CraigsList??

Post by boater07 » Mon Dec 02, 2019 12:15 pm

I have had 3 offers to buy sight unseen. Very similar offers to pay by cashiers check but not pick up item till check cleared.
All they ask for is name ,address,and phone number.
Something smells here and I don't respond. What could they gain??

jello_nailer
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Re: Scam on CraigsList??

Post by jello_nailer » Mon Dec 02, 2019 12:31 pm

The check clears, temporarily, as it takes the institution a few days to figure it out.
You have already delivered what they bought. They disappear, the institution advises you the "check" is fraudulent.
Now you are screwed...

J295
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Re: Scam on CraigsList??

Post by J295 » Mon Dec 02, 2019 12:33 pm

Scam?
Could be.
Get cash

rivercrosser
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Re: Scam on CraigsList??

Post by rivercrosser » Mon Dec 02, 2019 12:37 pm

The cashiers check will bounce. I took one from a guy a few years back for a tractor I was selling but he had given me the check number and location of his credit union a few days prior. I looked his credit union up independently and called them to verify. Turned out to be a very nice guy. He was afraid to pay cash in case it was stolen. Even wanted a receipt. Bottom line is, unless you can verify without a doubt its legit DON'T take anything but cash. The guy I dealt with was not that far away and I talked to him on phone. Was able to verify his address, etc.

bob60014
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Re: Scam on CraigsList??

Post by bob60014 » Mon Dec 02, 2019 12:43 pm

boater07 wrote:
Mon Dec 02, 2019 12:15 pm
I have had 3 offers to buy sight unseen. Very similar offers to pay by cashiers check but not pick up item till check cleared.
All they ask for is name ,address,and phone number.
Something smells here and I don't respond. What could they gain??
Typical scam on CL. You'll find that many of these will have the exact same wording from different users. Dont even answer and just block/delete the messages when they come in. I always will meet in person, will never ship, telling the buyer to meet me a local police station. Half the "buyers" disappear after that.

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dm200
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Re: Scam on CraigsList??

Post by dm200 » Mon Dec 02, 2019 12:49 pm

boater07 wrote:
Mon Dec 02, 2019 12:15 pm
I have had 3 offers to buy sight unseen. Very similar offers to pay by cashiers check but not pick up item till check cleared.
All they ask for is name ,address,and phone number.
Something smells here and I don't respond. What could they gain??
What are you selling that these folks want to buy?

Very, very odd (to me) offering to wait until cashiers check clears.

A "forged" cashiers check might initially "clear", but it would be detected very quickly and reversed - charge back to original depositor.

When we sold cars on Craigslist - we received cash (one was $2,000 and the other was about $500). When I bought a car on Craigslist, I also paid cash to the seller ($3,800).

I would only accept a Cashiers Check that I could, independently, verify. Preferably, meet the buyer at his/her bank or credit union and get the Cashiers Check (payable to you) directly from the bank or credit union. Then, deposit the cashiers check into your bank or credit union immediately.

GoldenFinch
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Re: Scam on CraigsList??

Post by GoldenFinch » Mon Dec 02, 2019 12:57 pm

I found this article about how the scam works:

https://www.vox.com/the-goods/2019/8/19 ... line-scams

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boater07
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Re: Scam on CraigsList??

Post by boater07 » Mon Dec 02, 2019 1:33 pm

Thank you. I'm amazed and didn't know a bank could come back after cashing

deltaneutral83
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Re: Scam on CraigsList??

Post by deltaneutral83 » Mon Dec 02, 2019 1:46 pm

boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
That's not exactly what happens I do not believe. I have been a long time member of my credit union. When I put a check in I have automatic access to the money because of my relationship with them. If it comes back bad, they simply take it out of my account. Occasionally they put the 2 day hold if the check is large enough. Just as an FYI the scam on Craigslist the OP described is pretty basic and if this wasn't spotted immediately I would be hesitant to engage in transactions that are large like a car. Always meet at the bank and only certified check that the bank confirms to your face.

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dm200
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Re: Scam on CraigsList??

Post by dm200 » Mon Dec 02, 2019 1:51 pm

deltaneutral83 wrote:
Mon Dec 02, 2019 1:46 pm
boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
That's not exactly what happens I do not believe. I have been a long time member of my credit union. When I put a check in I have automatic access to the money because of my relationship with them. If it comes back bad, they simply take it out of my account. Occasionally they put the 2 day hold if the check is large enough. Just as an FYI the scam on Craigslist the OP described is pretty basic and if this wasn't spotted immediately I would be hesitant to engage in transactions that are large like a car. Always meet at the bank and only certified check that the bank confirms to your face.
Yes - my understanding and experience as well.

DesertDiva
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Re: Scam on CraigsList??

Post by DesertDiva » Mon Dec 02, 2019 2:00 pm

Cash only on Craigslist sales!!

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RickBoglehead
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Re: Scam on CraigsList??

Post by RickBoglehead » Mon Dec 02, 2019 2:04 pm

boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
You need to think about selling on Craigslist if you haven't read their Scam section - https://www.craigslist.org/about/scams

Says right on the top section, bullet #4 - Don't accept cashier/certified checks or money orders - banks cash fakes, then hold you responsible.

Craigslist is a great place to sell stuff for those that know what they are doing. If you don't, then don't sell on Craigslist.

NEVER have someone come to your house. Meet at a Craigslist Safe Zone.

Accept cash (small bills, $20s or smaller), or for a large transaction meet at the person's bank and have the teller hand you the cashier's check.

Numerous posts here go into much more detail.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

fposte
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Re: Scam on CraigsList??

Post by fposte » Mon Dec 02, 2019 2:22 pm

deltaneutral83 wrote:
Mon Dec 02, 2019 1:46 pm
boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
That's not exactly what happens I do not believe. I have been a long time member of my credit union. When I put a check in I have automatic access to the money because of my relationship with them. If it comes back bad, they simply take it out of my account. Occasionally they put the 2 day hold if the check is large enough. Just as an FYI the scam on Craigslist the OP described is pretty basic and if this wasn't spotted immediately I would be hesitant to engage in transactions that are large like a car. Always meet at the bank and only certified check that the bank confirms to your face.
As the article linked above notes, the bank tellers can't always identify a cashier's check as fake, so this wouldn't protect you. "Michael warned the teller that he thought the check might be fake, and even asked for them to put the money on hold while they verified it, but the bank staff reassured him and immediately gave him the required cash."

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RickBoglehead
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Re: Scam on CraigsList??

Post by RickBoglehead » Mon Dec 02, 2019 2:29 pm

fposte wrote:
Mon Dec 02, 2019 2:22 pm
deltaneutral83 wrote:
Mon Dec 02, 2019 1:46 pm
boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
That's not exactly what happens I do not believe. I have been a long time member of my credit union. When I put a check in I have automatic access to the money because of my relationship with them. If it comes back bad, they simply take it out of my account. Occasionally they put the 2 day hold if the check is large enough. Just as an FYI the scam on Craigslist the OP described is pretty basic and if this wasn't spotted immediately I would be hesitant to engage in transactions that are large like a car. Always meet at the bank and only certified check that the bank confirms to your face.
As the article linked above notes, the bank tellers can't always identify a cashier's check as fake, so this wouldn't protect you.
Let me clarify how this strategy works correctly.

First, it should be a Cashier's Check, written by the bank, not a Certified Check from someone's private account. The teller does the transaction, removing funds from the buyer's account, and then cuts a Cashier's bank check. The teller then hands that check directly to the Seller.

Therefore, there are no fakes, nor possibility of a fake.

I sold my last vehicle for $8,500, and this is exactly how it worked, except it was the bank manager, and she asked me to sign the title (the bank was providing the loan to the buyer), then handed me the check and took the title.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

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boglesmymind
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Re: Scam on CraigsList??

Post by boglesmymind » Mon Dec 02, 2019 2:32 pm

Tell them you will only accept a Postal money order. You won't hear back from them.

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boglesmymind
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Re: Scam on CraigsList??

Post by boglesmymind » Mon Dec 02, 2019 2:33 pm

Duplicate

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dm200
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Re: Scam on CraigsList??

Post by dm200 » Mon Dec 02, 2019 2:34 pm

Let me clarify how this strategy works correctly.
First, it should be a Cashier's Check, written by the bank, not a Certified Check from someone's private account. The teller does the transaction, removing funds from the buyer's account, and then cuts a Cashier's bank check. The teller then hands that check directly to the Seller.
Therefore, there are no fakes, nor possibility of a fake.
I sold my last vehicle for $8,500, and this is exactly how it worked, except it was the bank manager, and she asked me to sign the title (the bank was providing the loan to the buyer), then handed me the check and took the title.
Yes.

fposte
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Re: Scam on CraigsList??

Post by fposte » Mon Dec 02, 2019 2:40 pm

RickBoglehead wrote:
Mon Dec 02, 2019 2:29 pm
fposte wrote:
Mon Dec 02, 2019 2:22 pm
deltaneutral83 wrote:
Mon Dec 02, 2019 1:46 pm
boater07 wrote:
Mon Dec 02, 2019 1:33 pm
Thank you. I'm amazed and didn't know a bank could come back after cashing
That's not exactly what happens I do not believe. I have been a long time member of my credit union. When I put a check in I have automatic access to the money because of my relationship with them. If it comes back bad, they simply take it out of my account. Occasionally they put the 2 day hold if the check is large enough. Just as an FYI the scam on Craigslist the OP described is pretty basic and if this wasn't spotted immediately I would be hesitant to engage in transactions that are large like a car. Always meet at the bank and only certified check that the bank confirms to your face.
As the article linked above notes, the bank tellers can't always identify a cashier's check as fake, so this wouldn't protect you.
Let me clarify how this strategy works correctly.

First, it should be a Cashier's Check, written by the bank, not a Certified Check from someone's private account. The teller does the transaction, removing funds from the buyer's account, and then cuts a Cashier's bank check. The teller then hands that check directly to the Seller.

Therefore, there are no fakes, nor possibility of a fake.
Yes, that would work. The key there is that the issuing bank is verifiably the source. The problem people run into is assuming the receiving bank can verify the validity of the check.

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RickBoglehead
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Re: Scam on CraigsList??

Post by RickBoglehead » Mon Dec 02, 2019 2:46 pm

boglesmymind wrote:
Mon Dec 02, 2019 2:32 pm
Tell them you will only accept a Postal money order. You won't hear back from them.
I have done probably a dozen USPS money order sales, all when people found my listings but they were not local. A USPS money order can be verified by the post office - you go in, and it to them, and they will go in the back and call a number and verify the money order.

HOWEVER, be aware that many post offices no longer transact much cash. I had a sale around $100, and they had no cash at 10AM. They said I could try back around 4, but they empty the drawers every night. People are using debit and credit cards nowadays.

Also be aware that many bank apps will NOT let you deposit an USPS money order. You either need to mail it in, or deposit it at the branch office.

When I did these remote sales, I had plenty of time, because they send the money order, I deposit it (at the bank), THEN I mail the package.

Note that a USPS money order and other money orders are NOT EQUAL.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

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