Most fake scams work only when the recipient is required to send money back to the scam artist. There is no legitimate reason for someone who is giving you money to ask you to wire money back and that’s a clear sign that it’s a scam. If you think someone is trying to pull a fake check scam, don’t deposit it, report it! Contact the National Consumers League’s Fraud Center, www.fraud.org. For more information about fake check scams and how you can avoid them, go to www.fakechecks.org.

There are a number of cash-management vehicles available that don’t meet the strict standards for money market funds and that, typically, are not SEC-regulated products. These are often referred to in the press as “similar to money market funds” or “money market-like funds.” However, these vehicles are not subject to the same risk limiting provisions as true money market funds.

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