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Michael A. Milazzo, CLU, ChFC
Registered Principal
The Meridian Financial Company
3350 Club Villas Dr SE, Unit #1303
Southport, NC 28461
Phone: 631-979-4223
Fax: 910-854-0002
Email: meridian@ae.cadaretgrant.com
Website: www.merfinco.com
July/August 2021
Spotting a Scam
In 2019, there were 27,000 reported fake-check scams, resulting in losses of more than $28 million. Recognizing the telltale signs of a scam may prevent you from becoming a victim.
Common “Scamagories”
In most fake-check scams, the victim is told to deposit a check and then given a plausible reason why some of the money has to be returned to the sender. Common scams to watch out for include:Mystery Shopper.
After “hiring” people as mystery shoppers, scammers send a check with instructions to deposit it in a personal bank account. Shoppers are told to wire some of the money through a money transfer service. Unfortunately, the consumer usually discovers that the check is counterfeit only after wiring the money.Car-Wrap Deals.
Victims who agree to use their vehicles for advertising are asked to wire money from a checking account to decal installers, who never materialize to do the wrap.Claiming Prizes.
Sweepstakes “winners” are given checks and told to send money to cover taxes, shipping, handling and processing fees.Overpayments.
Scammers who buy items that someone is selling online “accidentally” send a check for more than the cost and ask for a refund of the difference.Avoid Fake-check Scams
Never send money to someone you don’t know. If you are a victim of a fake-check scam, report the scam at ftc.gov/fakechecks or ftc.gov/giftcards.CONTACT US
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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
The Meridian Financial Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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