QNB Trust Blog

Safeguarding Your Finances: Essential Tips to Prevent Check Fraud

Published on December 11, 2023

Safeguarding Your Finances: Essential Tips to Prevent Check Fraud

In today's digital age, banking convenience has reached unprecedented heights with online and mobile banking applications. However, this convenience has also brought along newer forms of financial threats, one of the most prominent of these is check fraud. Protecting yourself from this insidious threat requires vigilance and proactive measures.


The Perils of Check Fraud


Check fraud has become a rampant issue in the banking world, where malicious parties manipulate checks for their financial gain. It's imperative to understand the various tactics employed by fraudsters to safeguard your hard-earned money.


Vigilance Is Key


To shield yourself from falling victim to check fraud, adopt a habit of monitoring your accounts daily. It’s best to reconcile your accounts daily through mobile or online banking applications rather than waiting until the end of the month. Review the front and back of checks that are clearing your account regularly. Any suspicious activity or unfamiliar transactions should be reported to your bank within 24 hours to prevent potential losses to both you and the bank.


Timely Action and Collaboration


Banks typically have a 60-day window to dispute a fraudulent item, potentially returning the money from the other bank and crediting it back to your account. This emphasizes the importance of swift action and cooperation with your financial institution in addressing any fraudulent activities.


Strategic Practices for Protection


Mitigating the risks associated with check fraud involves practicing certain precautionary measures. Avoid mailing checks to physical addresses and opt for secure PO boxes instead. Additionally, employing stop payments on issued checks ensures they cannot be tampered with or resurface as fraudulent items later.


Consistent Vigilance: The Ultimate Shield


Lastly, and most importantly, the mantra for protecting your finances from check fraud is simple: check your account daily. This cannot be emphasized enough! Checking your account daily is the best defense in catching any irregularities or unauthorized transactions swiftly.


In conclusion, while modern banking offers incredible convenience, it also demands increased awareness and proactive measures to combat emerging threats like check fraud. By reconciling accounts daily, monitoring transactions meticulously, and promptly reporting any suspicions to your bank, you can fortify your financial security. Remember, your vigilance is your strongest defense against financial fraud.


If you’re a Queensborough customer and think you may have been involved in fraudulent activity, call our Customer Care team at 1.855.QNBTNOW or 1.855.762.8669. You may also reach out to us with any questions by clicking here to view our Contact Us page.


For more information about protecting yourself from fraud, visit our Fraud, Privacy & Security Center.


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