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Check Fraud


Check fraud is one of the older scams that use to occur quite frequently, I would compare it to pfishing sites on the Internet who will steal $20 or your identity. But, check fraud inevitably still occurs and I would say that there are probably more lax laws on this area and people do not realize when it occurs.

How many people review every check and amount on their 8 page monthly statement and validate everything?

Not very many, so slipping in a single check fraud for $20 or so on a few different people per day in different banks will most likely go unnoticed. This occurs quite frequently with your debit cards, which are essentially the replacement of your checks. We will highlight the methods and ways to pin point fraudulent checks.

First, you should limit your spending methods to one form or the other.

Example, do not use paper checks, only your debit card for your purchases or vice versa. Since most places take debit cards even online, stick with the debit card. Second, try to keep spending to certain times and dates. Make all monthly payments at one time on let's say the last friday or whenever.

This will make it very easy to spot odd payments on different dates.

Third, try a keep a rough receipt book or envelope, in case of the event that you do not remember or feel the price is higher than stated.

I will give you an example of what I am talking about. I make all purchases at the end of the month or within the first week of the month.

So I write checks of all my bills on let's say the 3 rd of the month and that takes care of all recurring bills. Then I buy gas weekly, so that is very easy to track and the amount is always the same within fifty cents. Then there are the random purchases which I mentally check and when I see one I dont remember I look at my receipts, review my day and the time. If there is any error, report it, your bank is very helpful in this area and will track down your money.

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