The Crested Butte News reported:
In what might be a lesson for everyone, but especially entities that deal with high dollar payments that use physical checks, local, regional and national investigators are actively looking into what is described as a “check washing” incident with the Mountain Express.
“The check was originally issued by Mountain Express and was mailed through regular U.S. Mail. It appears the check was intercepted before reaching the intended recipient, altered and deposited by an unauthorized party. The issue came to our attention after The Downtowner notified Mountain Express that payment had not been received. Mountain Express then reviewed its bank records and determined that the check had cleared, but that the payee information had been altered.”
Find the original article here.
Key Takeaways: If you must send checks reconcile your bank account daily and add payee positive pay to ensure the altered check is not accepted when presented. Also, for high dollar checks, consider sending them through paid delivery service. Finally, contact the vendor within 7 days to verify they received the check.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
In what might be a lesson for everyone, but especially entities that deal with high dollar payments that use physical checks, local, regional and national investigators are actively looking into what is described as a “check washing” incident with the Mountain Express.
“The check was originally issued by Mountain Express and was mailed through regular U.S. Mail. It appears the check was intercepted before reaching the intended recipient, altered and deposited by an unauthorized party. The issue came to our attention after The Downtowner notified Mountain Express that payment had not been received. Mountain Express then reviewed its bank records and determined that the check had cleared, but that the payee information had been altered.”
Find the original article here.
Key Takeaways: If you must send checks reconcile your bank account daily and add payee positive pay to ensure the altered check is not accepted when presented. Also, for high dollar checks, consider sending them through paid delivery service. Finally, contact the vendor within 7 days to verify they received the check.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat