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Documentation (none / 0) (#5)
by jsimonson0 on Fri Nov 30, 2007 at 01:31:41 PM PDT

The HSBC rep probably told the original person to cash it because until the check is returned, there's no documentation that the check is fraudulent. Until it's presented for payment, it's a piece of paper. With that said, the original person used amazingly not-so-common sense in keeping his bank account out of the process. What also happens is that even if the check is legit, when the check gets returned, there's enough information stamped on it to submit an EFT for the original amount. The EFT process was a loophole in banking protection (don't know if it still is). Most banks didn't question or scrutinize EFT requests. Thus, even if the check clears, the scammer can request a series of smaller EFTs and quickly clean out a bank account.



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