In recent years, scammers have been taking advantage of those that still use checks, stealing them out of the mail and washing them with chemicals to fill in new names and amounts for their benefit. However, like with other scams, fraudsters don’t just stop there. They have new and improved ways to steal your money without a ton of effort. This year, be on the lookout for check cooking scams. Continue reading to learn more.
What is a Check Cooking Scam?
While bank mobile apps have allowed many customers to streamline their banking business, it has also allowed scammers new opportunities to try and trick the system. Mobile apps can allow users to digitally deposit checks by taking a picture of the check and uploading it to their account.
Scammers take advantage of this technology with stolen or counterfeit checks. They will take a picture of the check, then use editing software to erase the current check details, replacing these with their own name, account details, and a new dollar amount. While the technology used in mobile deposits can detect certain abnormalities in fake checks, sometimes the software that scammers use on stolen checks is extremely realistic and passes through the system with watermarks and other important check details included in the final product. This is a much cleaner, faster way for scammers to get to your money, and it can have devastating effects.
What Steps Can I Take to Prevent a Check Cooking Scam?
If you are someone who still uses paper checks to pay your bills or friends/family members for various things, there are some steps you should take to protect yourself.
- If possible, stop using checks and instead use a safer payment method, like a credit card.
- Pay family or friends directly with cash when possible.
- Make it harder for scammers to steal your paper checks. Don’t put your check in a mailbox. Instead, take it to the nearest post office and deposit it inside.
- Once the check has been mailed, keep a close eye on your checking account to watch for any suspicious transactions.
Remember, if you ever have doubts about the safety of a payment method or think you’ve been the victim of a scam, you can always contact your local Availa banker for assistance. We’ve seen every kind of scam out there and are here to help you. Don’t hesitate to give us a call today!