Someone I know recently got scammed. He was selling an old van and was given $3,200 in counterfeit $50 bills. He took the money to the bank where he was then told it was counterfeit. The bank also said they were contacting the police, perhaps because they were suspecting HIM of passing counterfeit bills.
I did some research. I already knew (from watching TV!) that the Secret Service is actually where one files a report or complaint. The police may try to recover the van, who knows. I suspect that the scammers plan to gut the car and sell it off in parts. The VIN might be traceable, but if they retitle it in another state, if might be harder to locate.
I also found other info. It is good idea to handle money transactions like this (with strangers) in a bank. Funny money passers would NEVER agree to this idea, which would be a major red flag. In a bank, you can convert the cash to a check or have the money deposited in your account. The bank would, of course, be able to tell if the money is counterfeit.
Here is a video of the features to look for on a $50 bill.
https://www.uscurrency.gov/denominations/50
I also read that sometimes one's homeowner's insurance might help one to recoup this loss, depending on the policy. Why would they cover the loss of a motor vehicle though?
Other precautions I thought about: asking to see their driver's license. Asking to take their photo. If one has nothing to hide, why would they refuse. These scammers also wouldn't sign the title in his presence.
This person is a magnet for tragedies like this. Before this happened, vandals in the neighborhood randomly slashed the tires of several vehicles in the area. It's considered a nice and safe suburban area, too. Not that that matters much. I can already imagine some self-entitled rich kids getting their kicks by doing this. I've heard of vandals smashing out car windows as well.
#FB00884
Feel free to add any other suggestions or other stories involving you or someone you know regarding counterfeit bills.
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