While the use of checks has declined by 25%, reports of check fraud have nearly doubled since 2021. With criminals becoming more sophisticated, it’s crucial to stay vigilant and protect your financial information.
FOLLOW THESE STEPS TO STAY SAFE WHEN USING CHECKS
STEP 1: RECOGNIZE THAT CHECKS CONTAIN SENSITIVE INFORMATION
A check is a gold mine for criminals. Your name and contact information can be taken. Account and routing numbers can be stolen. Blank spaces can leave room for alterations. Information in the memo line can be too personal. Your signature can be stolen to forge other documents.
STEP 2: UNDERSTAND THE MECHANICS OF CHECK THEFT, WASHING AND FORGING
Check Theft: Criminals frequently raid mailboxes and intercept mail, snatching checks to access and manipulate your personal details.
Check Washing: Scammers will use chemicals to “wash” checks, erasing and rewriting details to siphon funds into their accounts.
Check Forging: Armed with routing and account numbers, criminals easily create fake checks using modern printers and software.
STEP 3: PROTECT YOUR MONEY
Use GBT’s digital payment options whenever possible.
If checks are your only option, follow these tips:
Sign Up for Positive Pay for Commercial Accounts: Positive Pay is an anti-fraud system available for GBT commercial accounts that allows you to validate all checks presented for payment.
Use Permanent Gel Pens: Protect yourself by using permanent ink when you write a check.
Avoid Blank Spaces: Ensure your check leaves no room for criminal alterations by filling out each line completely.
Withhold Personal Information: Don’t add personal info like your Social Security number, driver’s license details or phone number to your checks.
Review Accounts: Regularly log on to your online banking platform to quickly identify anything out of the ordinary.
Check Your Checks: Analyze your paid checks to ensure the amount is correct and the endorsement reflects the intended payee to guard against unauthorized deposits.
Retrieve your mail promptly: Don’t leave checks in your mailbox overnight or for any other long period of time.
Pause Your Delivery: If you’re heading out of town, ask the post office to hold your mail until you return.
Head to USPS: Mail checks from your local post office instead of using a home mailbox or a blue street mailbox.
SUSPECT FRAUD? DO THIS:
- Contact GBT immediately.
Call 1-318-843-1136 to report the fraudulent check to GBT. We can help stop payment, freeze your account if necessary, and guide you on the next steps. - File a police report.
Contact your local police department to file a report. This creates an official record of the fraud, which is useful for investigations and claims. - Review your accounts regularly.
Monitor your bank and credit card statements closely for any unauthorized transactions. Report any suspicious activity immediately. - Report suspicious activity immediately.
If your check was stolen in the mail, report it to the United States Postal Inspection Service at uspis.gov/report or call 1-877-876-2455. - Use digital payment options when possible.
Generally, electronic payments are considered safer than checks as they often come with additional security measures like encryption and multi-factor authentication. However, it’s essential to use secure networks and trusted platforms when making electronic payments.