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Forum -> Household Management -> Finances
S/o check fraud -- can someone please explain?



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imasinger




 
 
    
 

Post Thu, May 25 2023, 8:12 am
I'm an arts person, and my pay is usually sent electronically, or checks/cash handed to me personally, and electronically deposited, so this world of rampant check fraud is unfamiliar to me.

But I don't get it.

When a person sets up an account, the bank puts their signature on file.

Why would they bother with that if the signature never gets checked? And how hard is it to check it? It probably doesn't even need to be done manually at first.

And, in this day and age, what are banks doing to improve the system?
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Chloe22




 
 
    
 

Post Thu, May 25 2023, 8:34 am
Checks are being stolen from USPS mail boxes in my neighborhood and then the checks are washed and made out to someone else in a different amount.
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