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How to Avoid Check Fraud Record important information on the front of the check. Many times a check forger will not be prosecuted if a driver’s license number is not recorded when the check is accepted. Obtaining the information below at the time of presentment will help you obtain a high collection rate. Draw a plus(+) sign and record the following information:
Examine the check writer’s driver’s license carefully. More than 60% of all forged checks taken last year were cashed with an expired driver’s license. Compare the check writer’s driver’s license photo ID with the check writer. Make sure the address on the ID is the same as the one imprinted on the check. Exercise caution when a check is presented from a recently opened account. Of all insufficient "hot checks", 90% of them are drawn on accounts that are less than 1 year old. Be extra careful regarding check accounts that have a check series number from 100 to 200. Use a check reader to verify all checks before acceptance is finalized. Significant reduction in check loss will be realized when accessing a good database that provides negative check writer data and tracks check writing patterns associated with fraud rings. Our Electronic Check Conversion includes verification! - read more - pricing - sign up Electronic Check Recovery is a free service!- read more - sign up |
