FAQ - New twist on the Nigerian Email Scam - Overpayment Fraud

Problem:

I hear there is a new variant of the Nigerian Email Scam that cheats people who sell things on line? How does it work?

Solution:

Well, it's the same bunch of crooks who are mostly from Nigeria, but operate from anyplace in the world. This is a new twist on the Nigerian email scam. Basically, you sell something and they send you a counterfeit cashier's check for the amount of purchase plus extra. They tell you to wire the change immediately. So you do, and when the cashier's check is returned as bad, you are out the money. Here's an excerpt.

Fraudulent Overpayment Type Fraud

"The OCC has been advised that Counterfeit Cashier's Checks of Frost National Bank are being issued nationwide and are also being used in connection with a fraudulent overpayment type fraud. The overpayment fraud is the type where the person receiving the check is actually owed money for goods sold. The seller receives a counterfeit cashier's check in the mail from the "purchaser" in an amount in excess of the amount owed; is asked to deposit the check and wire the excess funds immediately back to the sender/purchaser; and, the deposited cashier's check is subsequently returned as counterfeit and charged back to the seller's account....."

Please see the Treasury Site for more information on this scam..

Any questions or information that you may have concerning this matter should be brought to the attention of: Mail:

Mrs. Sandy Sullivan, Senior Vice President
Frost National Bank
P.O. Box 1600
San Antonio, Texas 78296
Phone: (210) 220-5935
Fax: (210) 220-5855
E-mail: ssullivan@frostbank.com

Questions regarding this Alert may be directed to the undersigned at:

Fax: (202) 874 5301 or
E-mail: occalertresponses@occ.treas.gov

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Category: Viruses and Security     Platform: Not Applicable
Document #: 626     Author: Cynthia Senicka    
Last Modified by: Joshua Moor on 06/11/2008