Protect yourself from Check Fraud
Check fraud is on the rise, fueled by a rise in organized crime targeting individuals and small businesses. Here are essential tips to safeguard yourself:
Prevention Strategies
- Avoid Mailing Checks: Use secure digital payment methods whenever possible.
- Monitor Transactions: Regularly check your bank account for suspicious activity.
- Secure Your Checks: Store blank checks and bank statements in a locked location.
- Use High-Security Checks: Opt for checks with enhanced safety features, such as chemically reactive paper.
- For Businesses – Implement Positive Pay Services: This pre-authorizes checks, helping to prevent unauthorized withdrawals.
How to Avoid Being a Victim of Check Fraud Scams
Warning Signs to Watch For:
- Unexpected Checks: Be cautious of checks you didn’t anticipate.
- Overpayment Requests: Never accept checks for more than the agreed amount.
- Urgent Action Pressure: Legitimate transactions don’t require immediate responses.
Key Prevention Strategies:
- Verify Legitimacy – Call the issuing bank using official contact information to confirm the check.
- Be wary of prize or lottery scams that ask for fees and avoid job scams involving fake checks.
- Don’t send money back for overpayments or use check funds to buy gift cards or cryptocurrency until the check clears.
- The FTC offers a guide on avoiding check fraud schemes.
How Fusion Bank can help
- We offer Online and Mobile Bill Pay, which is often a more secure method of paying bills.
- We order high-security checks, exclusively, for our customers. No charge on these checks for SmartChoice account holders.
- We offer Positive Pay for our business accounts, allowing you to verify checks before they clear your account.