tps22div - OVERPAYMENT SCAM: What does it look like??? You place a valid online ad for an item, such as furniture, car or a wedding dress. These online ads are often key targets for scammers. You receive an offer for the item from a “buyer”, usually by email. The “buyer” will send you a cheque or money order for the item, but for an amount much larger than the asking price. An example: you are selling an item for 150.00 dollars, but the “buyer” sends you a cheque for 1500.00 dollars instead. The “buyer” will claim the extra money is to cover the costs of shipping or customs fees or that you could keep a little extra money for the mix up and they request you e-transfer the overpayment back to them or to a 3rd party. Later, once the cheque or money order is processed, you will discover that it was fraudulent. You will not get any of the funds promised by the “buyer” and worse, you will have handed over some of your own money and possibly the item you were selling. ** Banks do not refund this type of fraud, as the account owner is required to ensure any deposit made is legitimate. Banks take 5 to 7 days to verify a cheque/deposit. ** This scam can take many forms so be weary when selling or buying things from online platforms**