Cross-border scam warning

The Malta Financial Services Authority has warned traders and consumers about what appears to be a new type of cross-border scam which is generally, but not exclusively, targeted at traders who might use the internet to promote and sell products and...

The Malta Financial Services Authority has warned traders and consumers about what appears to be a new type of cross-border scam which is generally, but not exclusively, targeted at traders who might use the internet to promote and sell products and services online.

The scam is usually referred to as Cheque Overpayment Scam, and, given its level of sophistication, traders and consumers are being warned to exercise due caution when receiving payment by foreign cheques and bank drafts for online transactions or from unfamiliar sources, the MFSA said.

Traders and consumers can contact the MFSA's consumer complaints manager for more information or clarification (freephone - 8007 4924; MFSA - 2144 1155; e-mail consumerinfo@mfsa.com.mt).

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