We already know that Craigslist transactions can get be dangerous, and that you should take every precaution you can. Now the National Insurance Crime Bureau has issued a warning about a very well organized, multi-state, scam where people are getting fake bank checks and losing their car.
According to CNN.com, the NICB says there have been as many as 100 incidents across the Midwest where a seller would purchase a car and present what looked like a very legitimate bank check. Bank checks are different than personal checks, because it guarantees the funds are immediately available. They are unlike personal checks that have to “clear” before the seller has access to the money. Most folks that sell things on Craigslist or other listing sites often will take a bank check, also called a cashier’s check, instead of cash. Buyers like the convenience of bank checks, because they don’t have to carry large amounts of money.