consumerU

Protect Yourself From Check Fraud DEMO

Check fraud is a challenge for all businesses and financial institutions today. With the advancements of technology in so many areas, it has become increasingly easy for criminals (whether individually or in organized gangs) to manipulate or forge checks. In the United States, a significant amount of check fraud is caused by counterfeiting (using desktop publishing or chemical alteration). In nearly every instance, check fraud begins with the theft of a financial document.

Preventing Check Fraud

Unfortunately, check fraud can happen to anyone…whether someone steals a blank check from your wallet or home, or looks through your garbage for a cancelled or old check. Let’s take a look at some preventative measures you can take against this crime.

Documents and Storage: Store checks, deposit slips, monthly and quarterly statements, and cancelled checks in a secure and locked location. Reconcile your checking statement within 30 days of receiving it to detect any irregularities. Unless needed for tax purposes, destroy all old cancelled checks, account statements, deposit tickets and ATM receipts. Never leave your checkbook in your vehicle (whether locked or not).

Sharing Information: Never give your checking account number or any other account number to someone you don’t know, especially over the telephone. Be particularly aware of unsolicited phone calls. Limit the amount of personal information on your check. DO NOT include your SSN, driver’s license or telephone numbers on your check.

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