Watch where you keep your blank checks. Hide them! There were more than a million cases of check fraud in the U.S. in 1993. If someone filches a few checks from the middle or the back of your checkbook, it could be months before you noticed, if ever. Then it’s just a matter of getting your signature (how hard is that? They may already have it from a letter or check you paid them with already, or by grabbing a piece of outgoing mail from your mailbox) and forging the check.
The best way to catch fraud: Reconcile your checkbook promptly each month. Better still, switch to an on-line checking account of the type now becoming available through Citibank or linked through Quicken or Managing Your Money. You’ll be able to see your transactions promptly — and spot any that seem bogus. What’s more, most of them will be electronic to begin with. No checks, no check fraud.
Also, make a note someplace of the checks you’ve got in your wallet, so if it’s stolen you know which are gone and can stop payment without having to close out your whole account. Each time you grab some new blank checks for your wallet, update that note. (A good place for it: right there with your main stash of checks.)
Yes, your liability is limited when it comes to forged checks. But that assumes (a) you even notice you’ve been robbed (if you don’t reconcile, you may never know) and (b) that you ignore value your time (straightening out a mess like this can be a nightmare).
Tomorrow: Dumpster Divers
Quote of the Day
A good listener is not only popular everywhere, but after a while he knows something.~Wilson Mizner
Request email delivery
- Aug 22:
Do You Make More Than $5 Million A Year?
- Aug 21:
A Well-Regulated Militia
- Aug 20:
Amazing iPhone Tip: You Have A Free Scanner!
- Aug 18:
400 Years Later
- Aug 16:
$5,000 For A New Knee; $400,000 For Literally Nothing
- Aug 15:
Bush 43’s Chief Speechwriter On Trump
- Aug 14:
Need A New Hip? A New Heart? Some Tomatoes?
- Aug 13:
Loving My Burgers
- Aug 12:
- Aug 10:
- Aug 22: