from: http://www.azcentral.com/arizonarepublic/local/articles/0421action21.html
Cashier's checks not as good as cash
CALL 12
FOR ACTION
Rick DeBruhl
Apr. 21, 2003 12:00 AM
Not everything is as it appears to be.
Take that cashier's check you just accepted for the used car you were selling. A cashier's check is practically as good as cash. Right?
Wrong. Counterfeit cashier's checks are the latest crime fad. Computer scanners have given crooks the technology to make very good imitations. Unlike $20 bills that use special paper, most cashier's checks are easy to fake. Not only is it almost impossible for you or me to spot them, even banks have trouble.
At first, banks were the big victims. Counterfeiters would walk in with a fake check and open up a new account. A short time later they'd withdraw money from a different location. It was too easy.
Now the banks are catching on. When you show up with a cashier's check, there's an excellent chance they're going to tell you the money won't go directly into your account. They'll hold the check until they verify it's real. It's just like a personal check.
Banks aren't falling for it, so crooks seek new victims. Anyone who might trust a cashier's check has potential.
A counterfeiter may buy your used car with the bad check. You sign over the title and he heads directly to the Motor Vehicle Division. Within an hour he could have a new title. He'll find another buyer looking for a good deal and sell him the car cheap.
Another crime finds the counterfeiter buying expensive items on eBay. He sends a $10,000 check for a $5,000 item. When you tell him about the mistake, he says it's not a problem. Just deposit the check and send him a check for the balance. You lose.
So how do you protect yourself? Don't trust cashier's checks anymore. If you're selling a car, tell the buyer you'll meet him at the bank that issued the cashier's check. That way you'll know instantly if the check is real. If it's an out-of-state cashier's check, tell the buyer to go cash it himself. Treat it like any check - with caution.
Reach Call 12 for Action from 11 a.m. to 1 p.m. weekdays at (602) 260-1212 or 1-866-260-1212.