My bank is in receipt today of several $1,000 Postal Money Orders being returned as counterfeit items. The money orders were originally deposited 9/23/04. My eternal gratitude to anyone who can cite that these items have a 24-hr return window...

Sorry, Schultz. Postal money orders don't adhere to that particular standard. In that regard, they are more like Treasury checks.

--Colonel Klink

Our depositor also attempted to deposit in our Night Drop eleven PMO in the amount of $1,000.00 each. Our Br. Mgr. had a gut feeling that they needed to be checked out and went to the local P.O. and verified that they were in fact counterfeit. The customer has been apprehended and booked with 11 ct. of bank fraud. The local police informed us that she had previously attempted another fraud a month ago at a S&L but failed. These are linked to nigerian scams involving emails, phone calls, promises of big money. The PMOs were addressed from a person in Chicago, IL. IT TOOK THE LOCAL P.O. OVER 30 MINS. TO DETERMINE THE ITEMS WERE A FRAUD. THEY HAVE TO MAKE A PHONE CALL TO FIND OUT. THE LOCAL P.O. TOLD THE CUSOTMER THAT "THEY LOOKED OK". THE CUSTOMER WANTED TO INTIALLY CASH THE PMO. SHE WAS TO GET $1,000.00 AND WIRE THE REST OF THE MONEY TO A "FRIEND".

You should consider a SAR filing.

DONE!

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Sorry, Schultz. Postal money orders don't adhere to that particular standard. In that regard, they are more like Treasury checks.

--Colonel Klink

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Well, I was pretty sure there was no hope, but it can't hurt to ask!

I suggest you establish a relationship with your local USPIS. Their representatives attend our fraud meetings regularly and work with us very closely. We als o had a rash of counterfeits MOs and they were very helpful.

I received 4 of them for $820.00 each. I really thought they were genuine and I deposited them in my bank. Now I have checks bouncing all over the place.

Counterfeit USPS Money Orders are EVERYWHERE! Call your local postal inspector and have them conduct a training session for your staff. I went to the Post Office and bought a $5.00 MO just to keep around as a sample to compair to. You should also conduct a training session on counterfeit Treasury checks. They are becoming a popular as USPS Money Orders.

check your state laws, you can force the deposit into savings accounts and now be able to place a hold.
Some state laws, ive been told, force you to treat the savings as you do a checking...
Also read your Availability disclosures and policy. Your policy may state you treat them the same as far as availability.

What good is a hold going to do you when a postal money order can come back for months????

We have people that have found them as they went through processing, but were told that they have to go out and come back stamped with the counterfeit stamp in order for the banks to proceed with the law enforcement. In which case they are treated as "collection items" and not actual deposits.