Check fraud happens when someone attempts to negotiate a check that has been forged, stolen or altered. Although check writing may be declining, check fraud continues to occur – sometimes for large amounts of money. The fraudster gets ahold of a check or an account number, creates fraudulent checks and attempts to negotiate them.
What do you do if you identify a fraudulent check has posted against your account?
- Contact your financial institution.
- Notify your local Police Department.
- Notify the Federal Trade Commission 1-877-FTC-HELP or file a complaint at www.ftc.gov. The FTC collects complaints about hundreds of issues and makes them available to law enforcement agencies worldwide for follow-up.
- File a complaint with the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov.
PROACTIVE BEST PRACTICES
What can you do to protect yourself?
- Keep your account number and checks secured.
- Enroll in online banking and review transactions daily.
- When a check posts, review the photo/image of it to assure it was not altered.
- Review bank statements regularly and carefully.
- When mailing checks, deliver envelope directly to the post office or postal mail box.
- Businesses can purchase Positive Pay and ACH block/filter