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Cheque Fraud

Cheque Fraud

CHEQUE FRAUD IS:

  • Altering cheques (payee/amount) without authority
  • Theft of legitimate cheques and then altering them
  • Duplication/counterfeiting of cheques
  • Depositing a cheque into a third party account without authority
  • Depositing a cheque from an account with insufficient funds

PRECAUTIONS TO BE TAKEN

WHILE WRITING A CHEQUE

Do:

  • Fill up all the details first and then sign
  • Write the amount in words and in figures
  • Ensure that account has sufficient funds to honour the cheque 

Don't.

  • Sign blank cheques
  • Leave gaps while writing the payee name, amount in word and figures

AT ALL TIMES

Do:

  • Regularly collect your bank account statements
  • Contact the bank immediately if cheques are lost or stolen
  • Use electronic means for high value payments

Don't:

  • Sign documents accessible to the general public
  • Keep cheques in easily accessible places
 
 
 
 
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