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By: U.S. Bank

Here are a few of the common scams that have happened to students on campus. Please remind your student to be watchful of any of the following scenarios:

Overpayment Scam: The “buyer” sends the seller a legitimate looking check, usually drawn on a well-known bank, for an amount higher than the agreed upon price. They concoct an explanation for this overpayment and instruct the seller to deposit the check and wire back the excess funds. Days later, the victim learns the check is a fake.

IRS Scam: Callers claim to be employees of the IRS. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. Victims may be threatened with arrest, deportation or suspension of a business or driver’s license.

Employment Scam: Employment scams generally start with a too-good-to-be-true offer – work from home and earn thousands of dollars a month, no experience needed – and end with consumers out of a “job” and losing money.

Rental property Scam: Victims come across a place in a great area, at a great price. The advertisement looks legitimate so they start communicating with the “owner”, generally by email. The “owner” says the place is theirs if they wire money to cover an application fee, security deposit, etc. They wire the money, then never hear from the “owner” again.

Internet Purchase Scam: Buyers are instructed to wire the money as payment. The money is sent, but the buyer never receives the goods.

Contact your bank if you are uncertain about a transaction. The sooner you call, the better chance your bank can prevent fraud on your account.

So, what do you think ?