Important Information on Cashier's Checks

DCECU management wants to make you aware of a version of the "Nigerian Scam" which is being perpetrated throughout the country, including locally. The scam involves the use of a fraudulent cashier's check to pay for an item being purchased via the Internet. After depositing the fraudulent cashier's check, the seller is asked to return some or all of the money to the buyer (sent too much money or changed their mind about buying the item), usually in an international wire transfer. The wire transfer occurs prior to the fraudulent cashier's check clearing the Federal Reserve Check Clearing System.

When a deposited or cashed item bounces or proves to be stolen or fraudulent, the accountholder who deposited or cashed the check is responsible. Given the widespread nature of this scam, please make sure that any funds you deposit to your account (including cashier's checks) come from a known, reliable source and are good funds before spending the money.

The United States Department of Justice warns people not to do business on-line with unfamiliar individuals or companies. The Department of Justice offers tips for recognizing and dealing with Internet fraud at its web site, www.usdoj.gov.