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In today's fast-paced digital world, with everyone moving to “digital payments” like debit/credit cards or mobile payment apps, you might think check fraud is a thing of the past. Surprisingly, it remains one of the most common financial threats our customers face. We want to share some helpful information about check fraud and offer simple ways you can protect yourself and your hard-earned money.

Let's Talk About Common Check Fraud Schemes

Even as many of us move to digital payments, fraudsters continue to target paper checks in several ways:

Check washing – This happens when someone steals your check from the mail, uses chemicals to erase the ink, and then rewrites it to themselves for a higher amount. Pretty sneaky, right?

Forged endorsements – If someone steals your check, they might try to sign your name on the back and cash it themselves.

Counterfeit checks – Criminals can create fake checks using information from your real account and try to cash them.

Altered checks – Similar to check washing, this involves changing details on a legitimate check you've written.

Overpayment scams – One of the trickiest schemes! Someone sends you a check for more than what's owed, then asks for a refund of the difference before you discover their original check is fake.

Simple Steps to Keep Your Money Safe

The good news? You can take several easy steps to protect yourself:

Embrace digital banking – Our online bill pay and mobile banking services offer secure alternatives to paper checks. Plus, they're convenient and save you a trip to the mailbox!

Keep an eye on your accounts – Sign up for eStatements and check your account regularly. The sooner you spot something unusual, the quicker we can help resolve it.

Be mail-smart – If you need to mail a check, drop it directly at the post office rather than leaving it in an unsecured mailbox where it could be stolen.

Watch out for "too good to be true" situations – If someone overpays you and asks for money back, that's a big red flag. Trust your instincts!

Use the right pen – It sounds simple, but using a gel ink pen when writing checks makes them harder to alter.

Keep your checkbook secure – Store blank checks in a safe place at home, just as you would other valuable documents.

What Should You Do If You Suspect Fraud?

If you think you might be a victim of check fraud, don't panic! Here's what to do:

1. Call us right away – Our team at Community First Bank is here to help. We can flag your account for suspicious activity and work with you to prevent further unauthorized transactions.
2. File a police report – This helps authorities track patterns of fraud in our community.
3. Contact the Federal Trade Commission (FTC) – Report the fraud at ReportFraud.ftc.gov, the FTC's official fraud reporting website. You can also call their Consumer Response Center at 1-877-FTC-HELP (1-877-382-4357). The FTC uses these reports to investigate and stop scammers.
4. Stay vigilant – Keep monitoring your accounts and credit reports for any unusual activity.

We're Here for You!

At Community First Bank, your financial security is our priority. We're more than just your bank - we're your neighbors and friends. If you have questions about check fraud or want to learn more about our secure online banking options, don't hesitate to reach out.

Ready to reduce your risk of check fraud by switching to online banking and bill pay? Give us a call at 608-943-0150 or email us at digitalbanking@cfbank.com. We're always happy to hear from you!