Fraud: It Can Happen to You
There really isn’t much to say about the recent rash of fraudulent check activity. I used to believe that with diligence and watchful eyes, most fraud could be prevented. Locking up your checks at night and limiting access to banking materials was advised to keep criminals from stealing and forging your checks. Now, issued checks are altered and blank checks are duplicated. These counterfeit copies are sometimes so good that it takes an expert to spot them.
The bottom line is, you can’t always prevent it from happening. What you can do is minimize losses and trouble by watching your account on a daily basis. Yes, the bank is watching, too, but they clearly cannot catch everything. Services like Positive Pay and On-Line Cash Management are tools you may have access to that can help protect your accounts from illegal activity. If you do not already use one of these or other great programs, perhaps it’s time to talk to your banker about what you can do to help.
About Pam
Pam Ripling has been affiliated with the escrow industry since 1978. A former escrow officer, Pam has helped design and sell escrow software, installed computer systems and trained end users. Quite by accident, she became an expert at trust accounting and formed her own company in 1991. She focuses on personal service and has built many long-term relationships with other industry professionals. 