Cheque fraud in the digital age

Classic cheque fraud scams have become scarcer since more people have been made aware of the most common fraudulent methods, as well as more people using secure online payments rather than writing cheques. But that doesn’t stop fraudsters from regularly coming up with new ways to try and dupe people out of their hard-earned cash, and they are constantly coming up with new ways to reel people in.

Modern cheque fraud scams

Although many people are now wise to fraudsters’ techniques, there are still millions of vulnerable people around the world who fall for these scams. Lottery scams are just one way that people have been tricked in recent years, with criminals approaching their targets under the pretence that they have won a lottery in a foreign country. In order to collect their winnings, the would-be victims are told they must pay taxes or fees to collect a substantial prize.

These scams are often conducted by phone, email and social media, as well as direct mail sent out by the scammers. Often, elderly people are targeted, taking advantage of their potentially lower digital awareness. Much of the correspondence is also personalised to add authenticity.

Although these scams are still common, many people nowadays are wise to the tricks and can recognise the claim is phoney. Although some losses can be sizeable, often they are small amounts as individuals are more likely to take a chance on a smaller payment, despite the circumstances appearing questionable. These complex schemes are often run by groups based around the world so that criminals can avoid detection.

How to stay aware

There are ways to keep yourself and those you care about safe from the risk of cheque fraud. Better consumer education is the first step, for instance, making sure you and those around you know that any letter claiming you have won something that requires payment for collection is probably a scam.

Although the above scams are most common, criminals are getting more sophisticated with their attempts. Many now claim to be from the government or legitimate organisations or businesses, such as calls from scammers claiming to be from Microsoft.

Here at Hague we are experts in preventing cheque fraud, and can offer your client specific advice to combat forgery and counterfeiting. We have developed and implemented high security systems for clients around the globe, including governments, blue chip corporations and universities.

To hear more about the service we can offer you, please get in touch here, and we’ll contact you to arrange a free consultation.