~ Sidney Federal Credit Union ~
Dedicated to superior service, anytime, anywhere!

Access your account, anytime, anywhere!

MEMBER
RESOURCE CENTER

VISA GIFT CARDS
NEW
design options!

APPLY TODAY!
Choose between our Classic, Gold & Platinum cards.

THE SCAM
COUNTERFEIT UNITED STATES POSTAL SERVICE (USPS)
MONEY ORDERS

There has been another twist to the “Nigerian” counterfeit scam that has surfaced at financial institutions throughout the country.

Members are being contacted by the scammer via the Internet.  Members are being asked to help negotiate United States Postal Service (USPS) money orders.  The scammer states that he/she can not get to the U.S. to negotiate them.  The member (victim) is told that if they assist with cashing the money orders for this unfortunate person they can keep a percentage of the item or a flat fee.  The remaining funds are to be wire transferred to the scammer outside of the U.S.   Often the scammer will state that they have a sick child and the funds are needed immediately for medical attention or expenses. 

·   The individual is usually sent 5 or 6 money orders to be cashed with each being $1,000 or less.  (The maximum value of a USPS money order is $1,000).  Often the dollar amounts will be the same for each money order.   

·   Most often there is no remitter name or address given.   

·   The money orders being presented are very good quality counterfeits.             

·   In many instances all money orders have the same serial number when you cover the check digit.

·   The counterfeits are slightly larger in size than a real money order. 

·   Any counterfeit money orders will be turned over for investigation.

SECURITY FEATURES OF VALID UNITED STATES POSTAL SERVICE MONEY ORDERS

·   There is a watermark of Ben Franklin on the left of the money order which is visible when held up to the light.  If this watermark is missing or is not clear the item is most likely a counterfeit.

·   A dark security thread runs from top to bottom to the right of the watermark with the letters USPS facing backward and forward.

·   Any erasures will be evident, as they will make the paper either darker or lighter.

·   The denomination is printed on the Postal Money Order in two locations.  The maximum value of a US Postal Money Order is $1,000. The maximum value of an International Postal Money Order is $700.   

·   Some of these items have 11 digits for the serial number.  The first 10 digits of the serial number should not be the same.

If in doubt, the USPS money order(s) can be taken to the post  office for verification / negotiation.  Also, the USPS will verify whether the item(s) is legitimate by calling 1-866-974-2733.
 

Back to Fraud Alerts
 

Learn more here!
 

Ages 0-19 years.
Click to Enter!