Check-cashing tactic used in CFPB sweepstakes scam

Consumer Financial Protection Bureau (CFPB) is alerting consumers about a new tactic that’s being used in a telephone sweepstakes scam that the agency reported in May 2012.

CFPB published an alert about the scam in which a caller who claims to be affiliated with CFPB offers you a $1.5 million check if you agree to pay a portion of the check to the caller to cover “taxes.”

CFPB says the tactic is designed to trick consumers into cashing a fake check and sending money to the caller. If a consumer receives a call that he/she believes to be related to this scam, he/she shouldn’t give any personal or financial information to the caller. Any suspicious calls should be reported to CFPB at 855/411-2372.

CFPB doesn’t run sweepstakes.