Public Advisory - Overpayment Fraud

The Saskatoon Police Economic Crime Section has seen an increase in overpayment scams in recent weeks. These scams have many different methods but often involve online sales or online job offers. The fraudster will overpay the victim for an item or have the victim deposit cheques in their personal account for an employment opportunity. The fraudster then asks the victim for the return or transfer of the overpaid amount. A common tactic includes saying the payment is for movers. The initial deposit or cheque is later determined fraudulent by the victim’s bank and the victim is out the returned or transferred amount.

Remember, being overpaid or told to deposit unverified cheques or funds in your personal accounts is a red flag for fraud. Always confirm with your bank that a deposit has cleared prior to transferring the deposited funds to someone else. Even though the deposit may be instantly reflected on a potential victim’s bank balance, the clearance of cheques and e-transfers can take considerably longer. Fraudsters rely on their victims to rush and will pressure their victims into quick actions.

Please visit our website and the Canadian Anti-Fraud Centre website for more information.