The internet has allowed for an increase in identity theft and has resulted in many crimes being conducted on unsuspecting victims. The average number of fraudulent checks written daily is approximately 1.4 million or $27.3 million worth of fraudulent checks written everyday. According American Bankers Association Deposit Account Fraud Survey Report in 2006, attempted check fraud at banks was estimated at $12.2 billion.
There are many types of check fraud that occur every year. One such crime is check fraud. Check fraud includes check theft, check washing, counterfeit checks, and taking over a someone's checking account.
Check washing is a crime where thieves erase the ink on a check with chemicals usually found in common household cleaning products. The victim's check information is erased chemically or electronically which allows a thief to rewrite the amount of the check and the name of the payee. Check washing is very successful because many banks accept the check at face value due to the legitimacy of the signature.
A valid check is prepared for check washing by placing a protective seal over the signature line usually using a low adhesive tape or sticker. The check is held with tongs and placed in a pan usually containing acetone (nail polish remover), paint thinner or bleach. The solution dissolves standard ballpoint pen ink. Once the ink has dissolved completely from the check it is hung up to air dry. Here are 8 tips to reduce your checks from being check washed.
1. Don't leave outgoing mail in an unlocked mailbox especially on holidays and the weekends. Drop off outgoing mail in a regularly visited collection box or take it directly to the post office.
2. Don't leave post office boxes full, empty them frequently especially on the weekends.
3. Pick up newly ordered checks directly from your bank or have them delivered by postal mail.
4. Shred canceled checks.
5. Check bank statements immediately after receiving them.
6. Print a return address on all outgoing mail that contains a check. A forged signature can be traced.
7. Do not leave blank spaces on the payee or amount lines.
8. Use a blank water-based or gel pen. Use gel pens when writing checks to pay bills.
No comments:
Post a Comment