Check Fraud Can Happen to Anyone

What You Need to Know About Check Fraud

Check fraud can be a scary concept to think about. Many of us are more familiar with identify theft or how someone can steal our credit card information, but we fail to consider how easily check fraud can occur. Unfortunately, seemingly benign things that many of us don’t think twice about doing can lead to us becoming the victim of check fraud.

Your Bank Account Information Is As Important As Your Credit Card Information

If someone ever asks for your bank account information, it’s best to not disclose it. Never give your bank account information to someone you do not know. If someone is going to wire you money, request that the person send a money order instead. If you provide someone with your bank’s routing number and your account number, they now have the information necessary to print fraudulent checks and they can use those fraudulent checks to take money out of your account!

A Big Financial Risk

By giving away sensitive information such as your bank account number you put your financial situation at risk. Providing someone with your bank account number makes it incredibly easy for that person to use that information to commit a crime such as check fraud. Many of us already know how to properly dispose of important financial documents such as credit card and bank statements when we are throwing them away, but we willingly give out our bank account information, especially if we think it means money will be deposited into our accounts. While it might be possible to properly investigate the matter and prove that someone forged your signature, you might already be out a considerable amount of money before the issue is resolved.

Keep in mind that just because someone asks you for information does not mean you have to provide it. Always consider other options first. Guard your bank account information closely so that you do not become the unfortunate victim of check fraud.

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