The CSA have recently been advised of a possible scam involving a Japanese company and one of our members. The company claimed to have a sizeable debt to be collected and engaged with one of our member DCAs. The Japanese firm then advised the DCA that once the debtor was aware they were being pursued by a debt collection company, they agreed to pay off a large amount of the debt, leaving a smaller, but still very significant (and more realistic) balance to recover. Please be advised that both the Japanese company and the debtor are in fact bogus, and this instruction was an attempt to defraud a DCA. They intended to issue a cheque from a Canadian bank to settle the debt, then once the funds had been remitted to the ‘client’, the cheque would bounce, due to the Canadian laws surrounding the right of a bank to recover funds from a cheque drawn as part of a fraud....Read more here