Markverhyden
Well-Known Member
- Reaction score
- 10,571
- Location
- Raleigh, NC
Not sure about other countries. Link below to an unlocked article about this in todays digital WSJ. This happened to a customer of mine last year. They had a check stolen, after it had been mailed, which was for around $400. Whoever intercepted it altered the check to over $40k and deposited it out of state and then was able to withdraw the money very quickly. Fortunately for them they are very good record keepers plus their GL policy included coverage for fraud. Got their money back in under a week.
High-Tech Banks Grapple With a Rise in Old-Fashioned Crime: Check Fraud
Banks are working to reimburse victims more quickly, but recouping funds is complicated.
www.wsj.com