What happens if you deposit a check from a scammer?
Depositing a fraudulent check provided by a scammer can result in severe financial losses and account complications. Because federal banking regulations require banks to make deposited funds available within a few business days before checks fully clear inter-bank processing, the fraudulent funds may temporarily appear in your balance. You might be tricked into withdrawing cash or sending money back to the scammer. Once the issuing bank discovers the check is fake or forged, the transaction bounces, the bank reverses the credit, removes the funds from your account, and leaves you responsible for any negative balance or overdraft fees incurred.
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