Stolen mail continues to fuel a large portion of check fraud losses. Counterfeiting through desktop publishing, copying or duplicating an actual financial document, and removing some or all of the information or altering it to the benefit of the criminal are some of the most common ways thieves are committing check fraud these days.
Protect Yourself from Check Fraud
- Use security features on checks that include watermarks, microprinting, background patterns or colored paper.
- Secure your checkbook in a locked drawer or safe vs carrying it all the time.
- Use online banking to pay bills whenever possible
- Sign up for direct deposit of paychecks and other benefits
- Only mail checks at blue postal boxes during normal mail pickup hours
- Shred old, cancelled checks, account statements, deposit tickets and ATM receipts
- Limit the amount of personal information on your check
Steps to Report Check Fraud
- Contact your financial institution immediately! Ask to have your current account closed and open a new account.
- File a police report with your local police department. This is important when dealing with financial institutions and creditors to prove the legitimacy of your claim.
- File a complaint with the Federal Trade Commission (FTC). You can report the incident online at www.ftc.gov/complaint or by calling 1-877-382-4357. While the FTC cannot resolve individual complaints, a report can help law enforcement detect patterns of fraud and abuse leading to investigations and prosecutions.
- Report the check fraud to the three credit reporting bureaus. This will help ensure your credit doesn’t suffer and it is crucial if your identity is stolen.
- Alert the Postal Inspection Service if the check was stolen from the mail. They are responsible for investigating mail theft.
- Contact the major check verification companies: Certegy, or call 800-237-3826. TeleCheck, or call 800-710-9898 and ChexSystems, or call 800-887-7652. These companies can flag your information, which can help prevent further fraudulent checks from being accepted by merchants.
Peake Federal Credit Union is here to help you keep your account information safe! By following these guidelines and being vigilant you can reduce the chances of becoming a victim of check fraud.
- Enroll in Online Banking and check your account frequently.
- Add a password to your account for telephone transactions. If you find suspicious activity, call us immediately.
- Do you have a Peak Federal Visa Debit Card or Visa Platinum Credit Card? If so, we highly recommend signing up for account alerts.
- Finally, make sure to notify us if your contact information changes.
By following these guidelines, you can help reduce the risk of becoming a victim of check fraud. If you have questions or need help, contact us at 410-828-4730, 800-234-4730 or [email protected]!
