Protecting Yourself From Counterfeit Checks
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by: aragomez35
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Word Count: 320
A diverse array of criminal activities falls under the umbrella term check fraud, all of them connected to illegal modification or use of checks. Among these, the most frequently seen are forgeries, kiting (as seen in the movie Catch Me If You Can), and alterations of names and addresses.
Both individuals as well as businesses have to watch out for this kind of fraud. Businesses have to be careful both as illegal checks are issued against them by fake employees, and illegal checks are handed to them as payment. Individuals suffer mostly from stolen blank checks which allow criminals access to bank account and routing numbers.
A business has a few options to fight the illicit activity. A business limits loss by contacting the bank to put a cap on the total amount withdrawn from a single check. A business must reduce the number of company employees who have the right to sign off or issue checks.
Consumers must also be careful that they do not become ensnared in fraudulent activity. Blank check are stolen from residences often. These blank checks are changed through the use of erasing and inking so that the check is accepted with other types of identification. When cashed, the money is drawn from the account of the victim.
A helpful financial record keeping device known as a checkbook register allows people to record daily expenses easily. Because the checkbook stores all data in the same location, the data is portable from place to place as long as there is paper and pencil to carry out calculations.
Another tool that helps people keep track of expenses is checkbook register software. The software has a number of entry forms to enter the dates, the check recipients, amount and purpose of repayment. The big advantage of software is that the data can be visualized in many ways.
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