NYSIF Check Scam Resurfaces

July 19, 2010

The New York State Insurance Fund has reissued a warning about a sweepstakes scam that NYSIF first became aware of last September, involving fraudulent NYSIF checks that have begun to reappear.
 
The scam involves counterfeit NYSIF checks that are being distributed along with a fraudulent letter which maintains that the individual has won a 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 its banking partner have fraud prevention tools in place that insure 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.

NYSIF has instructed individuals contacting us that the checks are not valid and should not be cashed. These individuals should contact their Attorney General’s Office.