What are the red flags on paper checks?
Paper check fraud is common and can lead to financial loss. Use this quick guide to spot warning signs before depositing a check.
Common Red Flags
1. Unexpected checks: be cautious if you were not expecting a payment or don't recognize the sender (especially for large amounts).
2. Poor quality or unusual design: look for blurry logos, misspellings, or strange formatting. Legitimate checks are professionally printed.
3. Altered amounts or payee names: different handwriting, ink colors, or smudges can indicate the check was changed.
4. Pressure to act fast: scammers often ask you to deposit the check and send money back right away. This is a common overpayment scam.
5. Bank information does not match: verify the bank name, address, and routing number. If they don't match, the check may be fake.
Note: the funds may appear in your account before the check is fully verified. If the check is fraudulent, the money will be removed and you may be responsible for any funds you sent.
What to Do:
1. Do not deposit suspicious checks.
2. Do not send money to the sender.
3. Contact out support team for guidance.