MONROE, La. (KNOE) - Millions of fake checks worth billions of dollars circulate every year and complaints to government agencies and consumer advocacy groups have been doubling over the last three years.
Courtesy: KNOE 8 News
Here are things to keep in mind:
-Having the funds credited to a bank account does not mean the cashed check is valid.
-Cashier's checks and postal money orders can be forged. Banks must credit the account by the next day.
-The person who deposited the fake check is responsible for returning money to the bank.
-If a check is fraudulent, the company that has its name on the check is not liable as long as it has no knowledge of the fraud.