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Show Job Scams Who’s Boss

Searching for a new job can be a rigorous process full of excitement, nerves and maybe even a sense of urgency to land that great opportunity. Scammers love to target eager job hunters – especially current college students or recent grads – posting ads online just like real, legitimate companies would.One of the most common ways job scammers operate is through fake check scams, and the scenario usually plays out like this:
  1. Fraudsters will post a job, commonly for positions like nannies, caregivers and personal assistants, or they’ll even reach out to you directly.
  2. Once you're hired, they'll urgently send you a check (usually overnight or via email) and tell you to deposit it so you can "buy equipment," for example.
  3. Then, they’ll claim you’ve been overpaid and need to send some money back to the company – or to someone else. They might also ask you to send gift cards or money to a third party, claiming they’ll purchase equipment for you.
  4. Their provided check is returned by your financial institution, and you’re responsible for any negative balance (while the scammer keeps the money you sent them).
Note these potential red flags for job scams:
  • The offer sounds too good to be true.
  • The potential employer asks you to purchase gift cards or send money back because you were “overpaid.”
  • Interviews are conducted through teleconferencing apps, rather than in person or through a secure video call.
  • Job postings are on a job board but not the company’s website.
  • You’re asked to pay back an amount through wire transfer or gift card.
Being excited about a job you really want can make it harder to acknowledge red flags, but stay vigilant. Take a moment to verify who you're dealing with and be protective of your personal information. And be sure to tell your job-seeking friends and family about warning signs to watch for, too! If you think you’ve been a victim of a job scam, or if you’ve given out your username, password, PIN or account info, get in touch with your financial institution right away. Summit members, give us a call at 800-236-5560. Sources:

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