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Current banking and checking technology is extremely safe for business as well as personal transactions. There are some safeguards one still needs to pay attention to. Beside the Bernie Madoffs of this world, there are many others just as sinister lurking in the shadows.
Check fraud is the number one crime for fraudulent money transaction according to statistics in the United States. In bygone pre-checks days, the only method to defraud available to criminals was to use false weights and measures. With the advent of paper money other methods could be resorted to.
When a bank check is deposited, the bank will send it to a clearing house to ensure that funds are available to clear the check. When the bank gets word that the funds are available, they deposit that amount of money into the account of the individual who deposited the check.
Forging checks is a common type fraud among the criminal. They sign the check in a way that looks like your signature and proceed to cash the check. They then disappear with our money.
Another way check fraud is committed is when a check is hijacked from a mailbox or other seemingly secure location. The criminal then signs and cashes it using fake ID. After the check is cashed it is almost impossible to catch the thief.
The safeguard criteria for bank and checking security is the American National Standards Institute's (ANSI). One of the features is micro print that is exceedingly small and if photographed, will break up and be easily detected. Alterations and erasures smudge and also will be visible.
Fakers and fraudsters are somewhat resourceful and can gain access to security check paper, graphics programs and good printers. They can fake numbers and other parts of a check.
Altered checks are genuine checks with a twist. The intended recipient can be altered or the account number details altered so a con artist can reap the benefit using acetone or some other type chemicals.
By taking time each month to look over your financial statements you'll prevent almost any chance of fraud. Simply looking over your order personal checks online statement is the fail-safe way to fraud protection.
Check fraud is the number one crime for fraudulent money transaction according to statistics in the United States. In bygone pre-checks days, the only method to defraud available to criminals was to use false weights and measures. With the advent of paper money other methods could be resorted to.
When a bank check is deposited, the bank will send it to a clearing house to ensure that funds are available to clear the check. When the bank gets word that the funds are available, they deposit that amount of money into the account of the individual who deposited the check.
Forging checks is a common type fraud among the criminal. They sign the check in a way that looks like your signature and proceed to cash the check. They then disappear with our money.
Another way check fraud is committed is when a check is hijacked from a mailbox or other seemingly secure location. The criminal then signs and cashes it using fake ID. After the check is cashed it is almost impossible to catch the thief.
The safeguard criteria for bank and checking security is the American National Standards Institute's (ANSI). One of the features is micro print that is exceedingly small and if photographed, will break up and be easily detected. Alterations and erasures smudge and also will be visible.
Fakers and fraudsters are somewhat resourceful and can gain access to security check paper, graphics programs and good printers. They can fake numbers and other parts of a check.
Altered checks are genuine checks with a twist. The intended recipient can be altered or the account number details altered so a con artist can reap the benefit using acetone or some other type chemicals.
By taking time each month to look over your financial statements you'll prevent almost any chance of fraud. Simply looking over your order personal checks online statement is the fail-safe way to fraud protection.
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