Check Fraud
Check fraud is a type of financial crime where someone illegally alters, forges, or uses a check without authorization. This can involve creating fake checks, stealing checks from someone else, or changing the amount on a legitimate check. The goal is to deceive banks or individuals into accepting the fraudulent check as valid.
To prevent check fraud, individuals and businesses can take several precautions. These include using secure check stock, regularly monitoring bank statements, and reporting any suspicious activity immediately. Additionally, employing electronic payment methods can reduce the risk associated with physical checks and enhance overall security.