Check Fraud
Even in today’s digital world, check fraud continues to be one of the most common types of financial scams—and it’s becoming more sophisticated every year. At Bank of Winona, we believe knowledge is your best defense. Here’s what you need to know.
What Exactly Is Check Fraud?
Check fraud happens when someone uses a check—real or fake—to illegally withdraw or steal money. It can involve stealing, altering, forging, or counterfeiting checks to deceive individuals, businesses, or banks.
The ultimate goal? To trick someone into handing over money that the scammer isn’t entitled to.
Common Types of Check Fraud
Criminals use several tactics to commit check fraud, including:
- Forged Checks: Signing someone else’s name without authorization.
- Altered Checks: Changing the dollar amount or payee name on a legitimate check.
- Counterfeit Checks: Creating entirely fake checks that appear real.
- Check Washing: Erasing the ink from a real check and rewriting it with new details.
- Fake Check Scams: Sending someone a fraudulent check and asking them to deposit it and send part of the money back—before the check bounces.
Why It Matters
Victims of check fraud can face serious financial consequences. If you unknowingly deposit a fraudulent check, you may be held responsible for the full amount—even if the money was already withdrawn or spent.
That’s why it’s so important to recognize the warning signs and protect your checks like cash.
Bank of Winona Is Here to Help.
If you ever have questions about a suspicious check, unusual activity, or just want to learn more about how to protect yourself, our team is here for you.
Call us at (662) 283-3231 or stop by our branch at 312 N Applegate St. —we’re always happy to help.
Stay informed. Stay secure. Stay with Bank of Winona.