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Cheque Fraud Prevention

CHEQUE FRAUD IS:

  1. Altering cheques (payee/amount) without authority
  2. Theft of legitimate cheques and then altering them
  3. Duplication/counterfeiting of cheques
  4. Depositing a cheque into a third party account without authority
  5. Depositing a cheque from an account with insufficient funds

PRECAUTIONS TO BE TAKEN

WHILE WRITING A CHEQUE

Do:

  1. Fill up all the details first and then sign
  2. Write the amount in words and in figures
  3. Ensure that account has sufficient funds to honour the cheque 

Don't.

  1. Sign blank cheques
  2. Leave gaps while writing the payee name, amount in word and figures

AT ALL TIMES

Do:

  1. Regularly collect your bank account statements
  2. Contact the bank immediately if cheques are lost or stolen
  3. Use electronic means for high value payments

Don't:

  1. Sign documents accessible to the general public
  2. Keep cheques in easily accessible places

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