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This has been tried on several sellers on the Music Classifieds: The buyer explains that he or a business associate will mail the seller a cashier's check or money order for the amount of the item plus the cost to transport it. The seller is asked to wire the transportation fees to the buyer once the check has cleared so the buyer can arrange for shipment or to send back the difference with the item. But a week or two after the check clears, the item has been shipped, and the excess money has been sent back, victims are notified by their banks that the check was counterfeited. The scam has become very widespread and has been tried on several sellers on this website. Scam victims admit they initially were skeptical when the deal was brokered, but after receiving and depositing a cashier's check that cleared, they assumed all was well. The scam takes advantage of a little-known loophole in the U.S. banking system. Many people don't realize that when a bank says funds have cleared, it doesn't mean the check is good. Under federal law, depending on the type of funds deposited, banks must give consumers access to the money within one to five days. Longer holds can be placed on deposits over $5,000, but banks are reluctant to inconvenience their customers. Unfortunately, it can take weeks for fake checks or money orders to be detected in the banking system. And sellers are out the items they have already shipped and left holding the bag for the money they've withdrawn. It's the depositor, not the bank, who is responsible if a check turns out to be bad.
Here is an example that was tried on a seller on this site:
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