December 29, 2006, Newsletter Issue #7: Beware of Fraudulent Checks

Tip of the Week

Many credible businesses use Versa Checks in order to help them effectively do business and process checks on an as needed basis. Because versa checks are so widely available and easy to use, they can be used to lure someone into a false sense of security. Just because you see what appears to be a valid looking business check, be wary of any business you have never dealt with before. White-collar crime is on the rise with the continued advanced in technology and despite the fact that the versa check could appear valid with a logo and security features, it could still be a fake. A versa check system is a great system for businesses to use to create their own checks but because of its ease of use, it can be a potential tool for scam artists.

When dealing with an unknown entity for the first time, you may want to require a certified check or let the check clear before releasing goods or services to someone

Always thoroughly research a company prior to doing business with them, especially if they are newly in business or overseas. The further away the company is from you, the more difficult it can be to validate them so trust your instincts and have a policy in place for doing business with companies that you don’t already have a relationship with.

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