Polaris Bank Fraud Knowledge Base

Cheque Fraud.

Cheque fraud refers to a deceitful criminal act by someone through the manipulation of Cheques in such a way as to deceive innocent victims (banks or individuals) and claim their money, probably using false personal identification.

Cheque Fraud Prevention Tips.

  1. When you receive your Cheque book, count the number of Cheque leaves and report any discrepancies to the Bank immediately. You should also count and reconcile the leaves in your Cheque book regularly after you begin to use it.
  2. Keep all Cheques secure when not in use to deter theft.
  3. Reconcile your accounts promptly and regularly.
  4. Never sign blank Cheques, and only sign Cheques after all details have been completed.
  5. Don’t leave any space in the completion of the payee name, amount in words and in figures.
  6. If Cheques are lost or stolen; contact the Bank immediately and ask to stop payment on the Cheque.
  7. Ensure that all invoices are valid before payment.
  8. Consider using electronic means of payment (if possible) for high value payments.