According to FTC officials, the scams work like this: Someone responds to your posting or ad, and offers to use a cashier’s check, personal check or corporate check to pay for the item you’re selling. At the last minute, the so-called buyer (or the buyer’s “agent”) comes up with a reason for writing the check for more than the purchase price, and asks you to wire back the difference after you deposit the check. You deposit the check and wire the funds back to the “buyers.” Later, the check bounces, leaving you liable for the entire amount.
In a different version of the scam, the FTC says, consumers get a check that has their “winnings” from a lottery. They’re asked to pay taxes or fees. Sometimes, the sender claims to be trapped in a foreign country without any way to cash the check. Either way, federal officials say, if you deposit the check, you’ll lose.