Education » Articles » Counterfeit Checks Can Appear Genuine
Counterfeit Checks Can Appear Genuine
Have you seen the workmanship on today’s counterfeit checks? Upon inspection, the
checks appear genuine. Criminals today use stolen account information from legitimate
checks, then print their own fraudulent checks on high-quality check stock available
at most office supply stores. Since most people cannot discern these checks, remember
to be cautious when accepting checks from people you don’t know.
Most of these checks are:
- Drawn on business accounts in other areas of the US (not Wisconsin).
- Dollar amounts just below $3,000 or $5,000.
- Printed on authentic check stock.
The recipient, usually an Internet seller, is asked to deposit or cash the check
and wire a portion of the funds to another individual through Western Union.
If you receive a check from someone you don’t know, ask yourself these questions:
- Did you receive this check as payment for something you sold or an apartment you
were advertising on the Internet?
- Did the buyer give you more than the purchase price?
- Are you being asked to wire money or pay a third party
Please contact UW Credit Union if you
have any concerns about a check you receive.
Who's responsible?
Each accountholder is responsible for items deposited into their account. For example,
if a counterfeit check for $10,000 is deposited and $4,000 is wired to someone else,
the full $10,000 will be debited from the account when the fraudulent check is returned.
The accountholder would have to accept the $4,000 loss from the wire transfer that
they authorized.
