In an Overpayment Scam, Your Bank Could Be a Thief’s Best Friend

One man learned the hard way that an overpayment scam can happen to anyone, but the even harder lesson might be that his bank did nothing to protect him.

An unidentifiable person wearing a hoodie and sitting in a dark room works on a laptop.
(Image credit: Getty Images)

If Southern California-based family nurse practitioner Joe Torres had read Fool Me Once by Kelly Richmond Pope, he and I would never have spoken. He also would not have lost thousands of dollars in an “overpayment” scam that began when his laptop screen froze while he was working with a patient.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

H. Dennis Beaver, Esq.
Attorney at Law, Author of "You and the Law"

After attending Loyola University School of Law, H. Dennis Beaver joined California's Kern County District Attorney's Office, where he established a Consumer Fraud section. He is in the general practice of law and writes a syndicated newspaper column, "You and the Law." Through his column he offers readers in need of down-to-earth advice his help free of charge. "I know it sounds corny, but I just love to be able to use my education and experience to help, simply to help. When a reader contacts me, it is a gift."