A local bank has issued a warning about an increased number of check fraud reports and urges people to use digital banking options when possible.
According to a written statement from MRV Banks, check fraud has nearly doubled since 2021. As a result, the company, as well as other banks across the nation, are joining with the American Bankers Association to promote an industrywide campaign to educate consumers.
“Criminal gangs across the country are turning to check fraud and check washing to steal money from banks and their customers,” said Paul Benda, executive vice president of risk, fraud and cybersecurity for the American Bankers Association. “With the strong support of participating banks like MRV Banks, we are confident that the #PracticeSafeChecks campaign will help consumers better protect themselves from this criminal activity.”
MRV Banks’ CEO and president Doug Watson said the Ste. Genevieve-based company takes check fraud seriously.
"It’s an evolving threat, and we’re committed to providing our customers with the education, tools, and resources to protect their finances,” Watson said. “Our team is always on the lookout for suspicious activity, ensuring that we stay ahead of these schemes while offering secure banking solutions for peace of mind.”
The #PracticeSafeChecks website, practicesafechecks.com, offers tips and reminds consumers that every time they write a check, they are exposing their personal information, such as name, address and bank account number and encourages them to use digital banking options to send money whenever possible.
The website encourages check writers to use permanent gel pens; avoid blank spaces; withhold personal information on the check; review accounts; check their paid checks on their online account; use digital payment options and follow up with the payee of a check to make sure the check has been received.