Has Your Business Been the Victim of Check Fraud?
So imagine this…
You’re working through your bank reconciliation (you are doing this every month, right?).
You come across a check for $1,000 that cleared your bank account.
Yet no matter where you look, you have no record of that check ever being issued by you or anyone else in your business. Nobody knows anything about it.
It’s very possible you’ve just become the victim of check fraud!
CARE TO SHARE?
I have recently bumped into this very topic with a few clients and other business owners.
Has it happened to you as well?
If so, I’d love to learn more about:
- Whether your bank covered the fradulent check(s)?
- Whether your bank suggested (or forced) you to tighten up and/or change your check issuance processes?
- Any other fallout from experiencing check fraud that you care to share?
Feel free to post your comments in the box below (they are visible to all) or contact me to share your story.
HOW TO PREVENT CHECK FRAUD?
Here are some resources you can use to get up to speed on this important topic (and hopefully prevent it from happening to you!):
- American Family Insurance – Preventing Check Fraud in Your Business
- Experian – What is Check Fraud?
- NBC News – Scammers Use Fake Checks to Steal Tens of Millions Each Year
- Comptroller of the Currency – Answers About Forgery and Fraud
If you end up liking the “positive pay” option to help combat check fraud, you can take advantage of the Treasury Software Positive Pay solution. You can use promo code BBL27 and get a 30% discount on your purchase.
Be sure to talk to your banker as well – they may have suggestions or solutions to help you avoid this problem too!