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Altering a Check

 
 
gollum
 
Reply Sun 25 Feb, 2018 08:02 am
I read that there are people who retrieve envelopes placed in the blue boxes used by the USPS for the public to place mail. The crooks then use a chemical to remove some of the writing on the checks and then deposit the checks to their own accounts.

Who takes the financial loss on this? The drawer of the check? The bank on which the check is drawn?
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Type: Question • Score: 0 • Views: 639 • Replies: 3
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jespah
 
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Reply Sun 25 Feb, 2018 09:19 am
@gollum,
I would imagine (don't know this for certain) that banks are insured against at least some of this. It's a known risk in the business, just like highway accidents are a known risk in the trucking industry.

I found this online. It doesn't cover the exact scenario, but it's pretty close: https://www.helpwithmybank.gov/get-answers/bank-accounts/forgery-and-fraud/bank-accounts-forgery-fraud-quesindx.html

Per that site (which is current to September of 2017), it seems the customer is required to review their bank statements with due diligence and, if something is off, notify the bank ASAP (and possibly also fill out a sworn affidavit regarding the theft). This might be different, though, as the discovery of the theft could potentially take longer.
centrox
 
  1  
Reply Sun 25 Feb, 2018 03:58 pm
@jespah,
jespah wrote:
notify the bank ASAP

ASAP means within 30 days, I think, and no claims at all will be considered after 1 year.
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gollum
 
  1  
Reply Sun 25 Feb, 2018 07:25 pm
@jespah,
jespah-

Thank you.
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