if they ask you to do it for chairity what is up
2006-11-20 15:47:24 · 6 answers · asked by feeling hopeless 1 in Business & Finance ➔ Other - Business & Finance
The internet has spawned many new confidence games. This is one of them. If you receive a money order or check and cash it to send 90% back to the sender, you will be out out out.. the whole amount because these MOs and checks are either forged or phoney.
Yep.. It's a big time scam and if you are sucked into it, you are foolish and will come out losing all of the amount that you cashed the check or MO for.
Ahh life.. ain't it a trip?
2006-11-20 16:01:11 · answer #1 · answered by vertically challenged 3 · 0⤊ 0⤋
If the bank is turning in a cash transaction report every time you cash one of those checks, the IRS will have questions about where all that money is coming from. I assume the sellers are giving you a receipt for the cash. If the paperwork on the sale shows the same amount, and you keep copies of paperwork that shows where you got the money and where it went, you should be fine. Personally, I would not want to have to retain all that just to show I was only a conduit. I can't help thinking there's a better way to handle those cash transactions.
2016-05-22 04:03:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Usually this is a scam run by a person or persons using this as an opportunity to scam someone out of money. The problem with wiring and cashing a check is that you have no way of reversing the transaction if you find out this is a scam. This usually happens also with newspaper ads or responses to ads saying "I live in a foreign country and if you wire me $xxx, my agent will send you back yyy in return". Turn and RUN FROM THIS SCAM!!!
2006-11-20 15:51:12 · answer #3 · answered by eaglefire5810 2 · 0⤊ 0⤋
The other way this scam works is overseas crooks use you as an eBay patsy. They "sell" items to people and tell them to send the money to you. People trust you because you have a US address.
You then wire 90% of the money to the crooks.
In a few weeks you start getting angry letters from people wanting to know where their merchandise is.
Then the police show up and throw you in jail for taking money from these poor people and not shipping them their stuff. With some luck and $50K worth of attorney's fees you manage to keep from going to jail.
Not a pretty sight.
I can't for the life of me figure out why people fall for this sort of thing.
2006-11-20 17:15:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It is a scam!! Don't get involved!!
2006-11-20 15:50:45 · answer #5 · answered by griffinpilot1965 3 · 0⤊ 0⤋
never do such...........
2006-11-20 15:55:20 · answer #6 · answered by cork 7 · 0⤊ 0⤋