NYSIF Issues Warning About Counterfeit Checks

September 14, 2009

The New York State Insurance Fund has become aware of a sweepstakes scam where counterfeit NYSIF checks are being distributed along with a fraudulent letter which maintains that the individual has won an American Family Publishing Sweepstakes.
 
The letter from a Canadian corporation states the recipient has won a large cash prize. To claim the prize they are instructed to phone the agent listed on the letter for instructions.

The recipient is instructed to cash the check and to send back a large portion of these funds to cover government tax fees for non-Canadian residents. Once this is received, they are told they will receive their prize. Unfortunately, this is not the case.

The perpetrators of this scam are using highly-regarded companies like NYSIF to appear legitimate. 

Fortunately, NYSIF and their banking partner have fraud prevention tools in place that insure that these checks are not paid. Additionally, NYSIF’s Division of Confidential Investigations is working with law enforcement to assist in bringing the persons responsible for this scam to justice.

When individuals contact NYSIF, we let them know the check is not valid and should not be cashed. These individuals should contact their Attorney General’s Office.