Over the last few years, the FTC has reported a growing number of complaints about scams involving counterfeited checks. Fake checks are used in numerous types of scams, and are therefore quite dangerous to your financial institution and accountholders.
Uncovering a fraudulent check can take much longer than the time your financial institution is given to clear a deposited check – and scam artists are ready and willing to take advantage of this fact. By the time you discover a fake check, the criminal could be long gone, and your accountholder may be stuck repaying some or all of the owed funds.
Take steps to ensure your accountholders’ finances – and your reputation – stay in the green! Share the below tips with your accountholders to help them prevent an attack involving fake checks:
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