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A substitute check (also called an Image Replacement Document or IRD) [1] is a negotiable instrument that is a digital reproduction of an original paper check.As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check, as authorized by the Check Clearing for the 21st Century Act (the Check 21 Act).
Forged and Altered Checks: If a check is stolen, it can be manipulated or cashed by fraudsters. Common Check Scams. There are several ways that criminals can use your checks or personal information:
(b) Forged signature. The cheque is genuine, but the signature is not that of the account holder. (c) Fraudulently altered. In this case a genuine cheque has been made out by the genuine customer but it has been altered by a fraudster, typically by altering the recipient’s name or by adding words and/or digits in order to inflate the amount.
A company audit reportedly found that eight checks totaling just more than $7,200 had been altered in such a manner and that Eden had later cashed those checks at Legence Bank between Dec. 4 and ...
The men also recruited others to deposit the altered checks into their bank accounts and would split the profit, officials said. On Dec. 29, 2022, officials say the Columbus man robbed a postal ...
Check washing is the process of erasing details from checks to allow them to be rewritten, usually for criminal purposes such as fraudulent withdrawal from the victim's bank account. [ 1 ] Various steps can be taken by the writer of the check to reduce the possibility of falling victim to check washing.
Fraudsters have altered cheques to change the name (in order to deposit cheques intended for payment to someone else) or the amount on the face of cheques, simple altering can change $100.00 into $100,000.00. (However, transactions for such large values are routinely investigated as a matter of policy to prevent fraud.)
Prosecutors say he was paid with altered checks stolen from the mail. ... three men were responsible for taking between $250,000 and $550,000 from 10 different victims by stealing from the mail ...