News & Insights

At Liberty Savings Bank, we take the security of your finances seriously. This article provides information on check washing and mail check fraud, along with steps you can take to safeguard your accounts.

What is Check Washing?

Check washing is a form of fraud where a criminal steals your checks, removes the original payee information (the name of the person or entity the check was written to), and replaces it with their own. They may then alter the amount of the check to a higher value. The criminal can then deposit or cash the check, stealing your money.

How to Protect Yourself from Check Washing

• Order checks with security features. Look for checks that have a background design, microprinting, and a tamper-evident void pantograph. These features can make it more difficult for criminals to alter the check.
• Keep your checks in a secure location. Don't leave them in your car, mailbox, or anywhere else where they could be easily stolen.
• Restrict who has access to your checks. Don't give your checks to people you don't know or trust.
• Reconcile your bank statements regularly. This will help you identify any unauthorized checks that have been cashed on your account.
• Consider using electronic payments whenever possible. Electronic payments, such as ACH transfers or bill pay, are a more secure way to pay for goods and services.
  
  

Mail Check Fraud

Mail check fraud occurs when someone steals your checks or blank check stock and uses them to create counterfeit checks. They may then mail these checks to themselves or to a third party to be cashed.

How to Protect Yourself from Mail Check Fraud

• Be careful about your mail. Don't leave outgoing mail unattended in your mailbox, especially if it contains checks.
• Deposit your mail promptly. If you receive checks in the mail, deposit them at your bank as soon as possible.
• Shred any unused or voided checks. This will help to prevent them from falling into the wrong hands.
• Report lost or stolen checks to your bank immediately. If you think your checks have been lost or stolen, contact Liberty Savings Bank right away to report the incident and have a stop payment placed on the checks.

By following these tips, you can help to protect yourself from check washing and mail check fraud. If you have any questions or concerns, please don't hesitate to contact us. We are here to help you keep your finances safe.