On Tue, Jan 15, 2008 at 10:26:42AM -0500, peter green wrote:
> 
> > This is now one of the most frequent scams perpetrated on high value
> > items such as cars, and unfortunately many people have fallen for this.
> > The check will be fraudulent and (almost unbelievably in this day and
> > age) it will appear to clear only to bounce some time later.  You will
> > find the seller is in a big hurry to complete the transaction after
> > sending you the check.
> >
> Looks like the real problem is the banks don't tell people (or at least
> hide in the fine print) that they will be held responsible if the
> cashiers check is found to be fraudulent and that the check may only be
> found to be fraudulent some time after it appears to have cleared.

That fine print frankly sucks. Once the cash hits your account, then the
bank should be on the hook for the transaction. Otherwise they need to hold
the check until it actually clears.

But it seems the easiest way to get rid of the riffraff is to indicate to
them that your bank institutes a 20 business day hold for any non local
transaction to ensure that the check clears completely. That should run
them off just as effectively as turning on the light on cockroaches.

Trust in today's world is a truly elusive concept.

BAJ
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