Locations & ATMs
Fraud Prevention
Dec 4, 2024
Despite the fact that check use has declined by 25%, reports of check fraud have soared. In fact, they’ve nearly doubled since 2021. Criminals are becoming more sophisticated and finding new ways to steal your financial information to gain access to and abscond your money. The Bank of Elk River is committed to helping our customers use checks safely.
Understanding the tactics they use can be your first line of defense.
Criminals are known to raid mailboxes and take off with checks so they can alter them and steal your money. One way to prevent this from happening is by not leaving your mail in your mailbox overnight or for long periods of time. If you’re heading out of town, you can pause your mail delivery for peace of mind. If you’re sending a check in the mail, don’t drop it in your mailbox. Instead, mail it from a USPS location to ensure it lands safely.
If criminals get ahold of your check, they could use what’s known as check washing. Chemicals are used to “wash” checks, erasing and rewriting details to siphon funds into their own accounts. Lastly, if a criminal gets ahold of your account and routing number, they can stow that information away, and easily steal your money by creating counterfeit checks using modern printers and software.
Remember, every time you write a check, you expose your personal information, such as your name, contact information and bank account number. If digital banking choices aren’t an option, keep these tips in mind to practice check safety:
1. Use Permanent Gel Pens
Use permanent ink when you write a check to protect yourself.
2. Avoid Blank Spaces
Make sure you fill out every blank space on a check so criminals can't fill them in instead.
3. Withhold Personal Information
Don’t add unnecessary information. When ordering checks, consider using your initials instead of your full name and opt out of listing your address. The latter can always be provided separately if a retailer requires it.
4. Review Accounts
Monitor your account activity online or in The Bank of Elk River mobile app. Regular reviews ensure you quickly notice anything out of the ordinary.
5. Check Your Checks
Regularly review your paid checks online and in our app. Ensure the endorsement is correct and reflects the intended payee and amount to guard against fraud.
6. Use Digital Payment Options
Consider switching to online bill pay for fast and secure payments.
7. Follow Up
Follow up with payees to confirm they've received and deposited your check.
For more resources and videos on how to #PracticeSafeChecks, visit PracticeSafeChecks.com.
Understanding the tactics they use can be your first line of defense.
Criminals are known to raid mailboxes and take off with checks so they can alter them and steal your money. One way to prevent this from happening is by not leaving your mail in your mailbox overnight or for long periods of time. If you’re heading out of town, you can pause your mail delivery for peace of mind. If you’re sending a check in the mail, don’t drop it in your mailbox. Instead, mail it from a USPS location to ensure it lands safely.
If criminals get ahold of your check, they could use what’s known as check washing. Chemicals are used to “wash” checks, erasing and rewriting details to siphon funds into their own accounts. Lastly, if a criminal gets ahold of your account and routing number, they can stow that information away, and easily steal your money by creating counterfeit checks using modern printers and software.
Remember, every time you write a check, you expose your personal information, such as your name, contact information and bank account number. If digital banking choices aren’t an option, keep these tips in mind to practice check safety:
1. Use Permanent Gel Pens
Use permanent ink when you write a check to protect yourself.
2. Avoid Blank Spaces
Make sure you fill out every blank space on a check so criminals can't fill them in instead.
3. Withhold Personal Information
Don’t add unnecessary information. When ordering checks, consider using your initials instead of your full name and opt out of listing your address. The latter can always be provided separately if a retailer requires it.
4. Review Accounts
Monitor your account activity online or in The Bank of Elk River mobile app. Regular reviews ensure you quickly notice anything out of the ordinary.
5. Check Your Checks
Regularly review your paid checks online and in our app. Ensure the endorsement is correct and reflects the intended payee and amount to guard against fraud.
6. Use Digital Payment Options
Consider switching to online bill pay for fast and secure payments.
7. Follow Up
Follow up with payees to confirm they've received and deposited your check.
For more resources and videos on how to #PracticeSafeChecks, visit PracticeSafeChecks.com.
