Are you facing allegations of check fraud? This could have a serious negative impact on your reputation, even costing you your job or freedom.
In order to avoid these terrible outcomes, it is best to understand as much as possible about check fraud.
The Ascent discusses check fraud as a crime. People often engage in several different types of check fraud crimes.
For example, the use of stolen checks often occurs. Fraudsters might get ahold of actual company checks, but use them to commit fraud. Employees may steal blank checks or they could get stolen in a robbery.
Counterfeit checks also happen often. Fraudsters can use commercially available printers to create checks that seem incredibly realistic. It is important to keep an eye out for potential hallmarks of a counterfeit check, such as the lack of perforated edges on one side.
Finally, some people will engage in check kiting. This happens when the fraudster creates different bank accounts and floats between them, despite lacking money to cover checks. By using this simple scheme, some fraudsters can defraud a bank out of thousands of dollars.
However, some people may accidentally engage in check kiting without realizing it. They write checks intending to pay for something with money they do not currently have but will receive shortly.
Unfortunately, the law will still view these actions as illegal. Thus, it is important to have the right help when up against these charges, as it could result in jail time and large fines if convicted.