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Answer Posted / sanjeev kumar maurya
Check fraud is one of the largest challenges facing
businesses and financial institutions today. With the
advancement of computer technology it increasingly easy for
criminals, either independently or in organized gangs, to
manipulate checks in such a way as to deceive innocent
victims expecting value in exchange for their money.
A significant amount of check fraud is due to counterfeiting
through desktop publishing and copying to create or
duplicate an actual financial document, as well as chemical
alteration, which consists of removing some or all of the
information and manipulating it to the benefit of the
criminal. Victims include financial institutions, businesses
who accept and issue checks, and the consumer. In most
cases, these crimes begin with the theft of a financial
document. It can be perpetrated as easily as someone
stealing a blank check from your home or vehicle during a
burglary, searching for a canceled or old check in the
garbage, or removing a check you have mailed to pay a bill
from the mailbox.
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