Define: Raised Check

A raised check refers to a fraudulent act where the amount written on a legitimate check is altered by adding digits or changing the payee’s name to deceive the recipient and obtain a larger sum of money.

Yes, raising a check is considered illegal and falls under the category of check fraud. It is a criminal offense that can lead to severe penalties, including fines and imprisonment.

To protect yourself from raised checks, it is essential to be cautious when writing and receiving checks. Always use a pen with permanent ink, avoid leaving blank spaces on the check, and securely store your checkbook to prevent unauthorized access.

If you suspect a raised check, it is crucial to contact your bank immediately and inform them about the situation. They will guide you through the necessary steps, such as filing a police report and providing any evidence you may have.

Banks have a responsibility to exercise reasonable care when processing checks. If a bank fails to detect a raised check and disburses funds to the wrong recipient, they may be held liable for negligence. However, the specific circumstances of each case will determine the bank’s liability.

To verify the authenticity of a check, you can contact the issuing bank directly and ask them to confirm the check’s legitimacy. Additionally, you can examine the check for any signs of alteration, such as mismatched handwriting or irregularities in the printed information.

Yes, if you are a victim of check fraud, you have the right to press charges against the person who raised the check. It is advisable to gather any evidence you have, such as the altered check and any related documents, and report the incident to the police.

The penalties for raising a check vary depending on the jurisdiction and the amount involved. In general, check fraud is considered a felony offense and can result in substantial fines, probation, and imprisonment.

Once a raised check has been cashed or deposited, it becomes challenging to reverse or cancel the transaction. However, if you discover the fraud before the check is processed, you can contact your bank and request a stop payment on the check.

To prevent raised checks from affecting your business, it is crucial to implement strong internal controls. This includes regularly reconciling your bank statements, training employees on check fraud prevention, and utilizing secure check printing methods. Additionally, consider using electronic payment methods, such as wire transfers or online payments, to minimize the risk of check fraud.