Farmers Bank is aware of a recent scam targeting Nonprofit Organizations. This scam involves a person reaching out via email to a representative of a targeted organization. The scammer inquires about giving a large donation and where can he or she can send it to. The Nonprofit then responds with the standard message of whom to make the check out to and other information about their cause. The Nonprofit then receives a check for more than the amount stated and is contacted back by the scammer stating that they or their accountant have over paid the targeted Nonprofit Organization.
Victim organizations in this scam have returned a portion of the funds to the suspect and then discovered the check is counterfeit, leaving the victim organization with the monetary loss. Farmers Bank recommends that all nonprofit organizations exercise caution when receiving large donations, where the donation is contingent on some type of action. These actions may include returning portions of the funds from over-payment of the donation.