Check washing is on the rise and costing people thousands of dollars. Here’s what you need to know about this scam, how to protect yourself, and what to do if it happens to you.
What is Check Washing?
Check washing is a form of fraud where scammers intercept checks in the mail and manipulate them to cash in on the money. It’s called check washing because criminals use chemicals to “wash” the ink off. They then essentially rewrite elements of the check. They change the payee and often the dollar amount before cashing it. The result: your money ends up in the wrong hands, and recovery isn’t always an option.
How to Protect Yourself
- Use a gel or fraud-resistant pen when writing checks. These pens contain ink that soaks into the paper and is practically impossible to remove.
- Mail checks inside the post office. Don’t use your home mailbox or an outdoor collection box when mailing important items like checks.
- Monitor your accounts closely. Tip: All customers should check their accounts regularly. Businesses should check their accounts daily.
If you see inaccurate check information in your account and think you may have fallen victim to check washing, report it immediately. The sooner suspected fraud is reported, the more options you may have to recover your money.
Despite check washing becoming more prevalent, knowing the important preventive measures and recovery steps help protect it from happening to you. If you have questions about check washing, your team at Guthrie County State Bank is here to help! Plus, stay tuned for future Fraud Friday posts to stay in the loop on all trending scams.