Check Fraud

Check Fraud Is Real!

Check Fraud is real and on the rise! Although banking continues to evolve many businesses and individuals prefer traditional check writing as a form of payment. Being familiar with common check fraud tactics, targets and safeguards is the first line of defense to protect yourself. 

What is Check Fraud?

Check Fraud can happen to anyone and may occur in many ways. Intercepting Mail is a common method Fraudster’s may attempt to obtain checks with malicious intentions. Once the Fraudsters have possession of the check, they may wash the original check. Check Washing is a form of fraud where the ink on the original check is erased chemically or digitally so the information on the check can be altered. Check alterations may include the payee, amount, date, check number and negotiability. Through Check Washing the Fraudster may duplicate the check with the original check number or create additional counterfeit checks.

Ways to Protect yourself from check Fraud?

  • Avoid leaving incoming and outgoing mail in unattended or unsecure mailboxes. If you need to mail a check it is recommended to drop any mailed checks directly at US Post Office or USPS Collection Boxes.
  • Shred and/or properly dispose of old/voided checks. If checks need to be kept for record or bookkeeping purposes, it is recommended they are kept in a secure limited access area. DO NOT throw them in the trash.
  • Frequently check all your bank accounts for suspicious or unauthorized activity. It is recommended that you check your account activity at least once a day. There is a limited time window for recovering funds when fraudulent items are presented.
  • Consider making payments using ACH or BillPay.
  • Be aware of you and/or your company’s transaction activity. Be aware of the things that may put you at higher risk for fraud or that may make you a target.

What services does BankFlorida offer to help combat Check Fraud?

BankFlorida offers Online Banking so that you may review your account activity at any time.

To enroll in online banking please contact your local branch.

We also offer Positive Pay, as an additional service through BankFlorida Treasury Management online banking.

What is Positive Pay?

The Positive Pay service helps minimize fraudulent checks from being negotiated against your account. The Bank will compare checks that are presented for payment against a ‘check issue file’ uploaded by the customer. The bank will notify you of any items that do not match your check issue file via an exception alert in Treasury Management.

*Enrollment in BankFlorida Treasury Management Online Banking Required.

**Agreement and approval required

*** Fees apply