At Ukrainian Federal Credit Union, your financial security is our top priority. Scammers often use fake checks to trick people into sending money back to them, leaving you responsible for repaying the bank. Here’s how to recognize and avoid these scams.

Common Signs of a Scam:

• You “win” a prize and are asked to send back taxes and fees.
• You’re paid as a “secret shopper” and told to wire money back.
• You sell an item online, and the buyer overpays.

In each of these cases, the scammer sends you a check and asks for money in return. This is a red flag.

Why Does the Money Appear in Your Account if the Check is Fake?

Banks are required to make deposited funds available within days, but it can take weeks to uncover a fake check. By then, the scammer has your money, and you’ll need to repay the bank. It’s important to remember that just because a check has “cleared” doesn’t mean it’s legitimate.

How to Protect Yourself:

• Be cautious. Speak with someone you trust and contact UFCU before taking action.
• Never accept a check for more than the selling price of an item.
• Never send money back to someone who sends you a check.

If you have any doubts or questions, reach out to UFCU. We’re here to help protect you from scams and safeguard your financial future.