Please review and reconcile your bank statements monthly.

I have seen 2 different clients experience fraud in their bank accounts over the past month.  In the first case, a check printed in the amount of $75, cleared for over $4,000.  The bookkeeper noticed the discrepancy while she was reconciling the bank account.  In the second case, a check printed in the amount of approximately $500, cleared for over $2,000.  The business owner noticed the discrepancy while she was reconciling the bank account.  In both cases, the bank did NOT detect the fraud incident and, so far, they have not reimbursed them.

I read this information recently and wanted to pass it along to you:

Fraud is a crime of opportunity.  Thieves will grab a check out of your mailbox, erase the payee, and change the amount.  (This is exactly what I saw in the above cases above.)  Or better yet, swipe a blank one from your office.  They'll snoop through your computer.  They'll search for personal info like your birthday and your social.  Then they'll open lines of credit or even file fake taxes in your name.  They'll forge hefty checks at your expense, and the burden is often on you.  The sad truth is that it's not that hard to pull off.  Fraudsters are looking for easy targets, and each of us can be a target.

Here are a few things you can do:

1. Reconcile regularly
2. Use a trustworthy bookkeeper
3. Use strong passwords
4. Limit your exposure
5. Be diligent

Another thing you may want to consider is using secure checks that are extremely difficult to tamper with or counterfeit.  Checks are now available with security holograms, heat sensitive icons, fluorescent fibers, microprinting, security coating, chemically reactive paper, prismatic backgrounds, and fraud sensitive ink.   We sell these checks at discounted prices, please call us for more information.