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Below are examples of check fraud, explanations of how they were committed, prevention methods and liability issues:
Example 1
A business writes a $2,500 check to a contractor who then alters the check to $25,000. When the contractor deposits the check it will be scanned and likely truncated (destroyed) leaving a digital image of the check as the only document. If the check clears the business’s bank and is paid then, when the fraud is detected, maybe weeks later, the evidence of the fraud will be very limited. A scanned check loses most of its security features.
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Laurence Liss
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