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The Many Faces Of Check Fraud

Updated on March 14, 2007

Check Fraud

In today's world of retail theft there are a few scams that are really successful and are very dangerous your business. One scam that is particularly bad is check fraud. With today's technology checks have become very easy to reproduce.

There are many programs now available that you can use to make your own checks. Now , these checks are mainly used by businesses or people who like to pay there bills by check. Unfortunately the dishonest have found some uses of there own.

For example, you can create payroll checks with this program as long as you have a active bank account and routing number. These numbers are at the bottom of your check and are read by what is called a MICR reader. This tells whether or not the check is good or bad.

These people can obtain legitimate account numbers a few different ways. They will sometimes break into a parked car and steal old bank receipts, steal purses, or sometimes have a friend or someone they know who is a cashier somewhere copy the number from there customers. Some have even been known to open a bank account of there own, then create checks with a fake name and address with there real account number. These people will purchase things out of the paper, buy from retailers who do not require a DL#, or sometimes create there own payroll check and cash it. And my favorite, is when the individual will purchase merchandise and turn around and return it the following day for cash. Then after writing numerous fraudulent checks, they will report some checks as stolen and close the account. The point is that this scam does exist and more and more people become victims everyday.

So in conclusion, here are some things you can do to prevent yourself from becoming a victim:

1) Whenever you do a transaction with your bank be sure to either put the receipt in a safe place or destroy it.

2) Women, don't ever leave your purse unattended, not even for just a second. The people who steal purses are not rookies. This is what they do for a living.

3) If you are a business owner try not to deal with checks at all. There are many other forms of payment you can accept. Truth is you will probably take more losses by accepting checks.

4) If you are going to throw away old bank slips or anything with your account # on it make sure to shred it first.

5) If you suspect a fraudulent check is being presented to you as payment, as a merchant you can call the bank listed on the check to verify that the account is good.

This is just a fraction of what is possible in the world of check fraud. So please be aware and don't be a victim.

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      Laura 

      10 years ago

      If you are given a check, don't call the number listed on the check. Look up the number of the bank elsewhere! The number listed on the check can go right to the people who are doing the fraud.

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