April 6, 2009

Ganaraska Financial Services Group, a credit union located in Ontario, has reported counterfeit copies of its bank draft being circulated across Canada and in the United States.

The counterfeit drafts are good quality and have sequential serial numbers starting in the 5200 range.

Members of the public received some of the counterfeit cheques, unsolicited, through the mail. Other cheques were received as part of a “secret shopper” e-mail scam. Both the direct mail and secret shopper scam required that the cheque be cashed and a percentage be wired back to the sender.

The recipient of the cheque could keep a certain amount of the cheque as payment. When the cheque was returned through the clearing as counterfeit, the recipient would be liable for the whole amount of the cheque.

This incident is under investigation by police.

If you would like more information or if one of these questionable cheques is presented, please call the credit union at:

1-888-374-1717 or e-mail

info@ganaraskacu.com

Or contact Heather Mitchell at Credit Union Central of Canada
416-232-3454         
 mitchellh@cucentral.com