CHECK FRAUD IS ON THE RISE.
Remain vigilant in protecting your finances.
Check fraud is one of the biggest threats happening right now. There are many types of check fraud, ranging from receiving to cashing checks. Learn what you can to do to help avoid fraud.
1. Pay online. Checks are being stolen directly from the mail, they are easily replicated and go through multiple hands. By choosing an online option, money can be checked 24/7 and passes directly from one account to the next.
- Online Banking Transfers
- Online Bill Pay
- Credit Cards
- ACH Payments
- Direct Deposit
2. Never cash a check for over the amount you're owed, especially if they're asking you to send back the extra amount. This is a scam!
3. Don't accept a check from someone you don't know, or are not expecting.
4. Verify the check. Make sure the issuing bank is real, by looking them up online or calling them to confirm. Check for watermarks or security features you typically see.
The first line of defense starts with you - know what signs to look for and be vigilant before using or cashing checks.
Check out this great infographic from the Federal Trade Commission (FTC) on check fraud.