Fraudulent cheque writing has become a profitable way of life for many criminals. Poor cheque cashing policies and carelessness increase the risk of loss.
Before accepting a cheque:
Do not let anyone rush you
Insist upon cheques being endorsed in your presence and compare the signature with those presented on their I.D.
Make sure the cheque is properly dated and completed
Do not accept cheques showing any signs of alteration
Do-not accept post-dated cheques and never agree to hold a cheque until a future date
Do not accept second party cheques
Do not accept cheques for an amount greater than the purchase
Do not accept company cheques automatically, even though they look "official", call the business for verification when in doubt
Be careful of cheques not drawn on local banks by local payees
Be careful cashing cheques after banking hours
Be careful cashing counter cheques (cheques with no preprinted information such as name, address, or account number)
To reduce losses from bad cheques:
Unless you are satisfied that the cheque is good, do not accept it, you are under no obligation to accept any cheque
Establish a firm cheque-cashing policy and advertise it
Keep blank cheques, bank statements and other records in a safe place
If a cheque is forged or stolen:
Try to delay the passer but do not apprehend, call the police immediately
If the criminal flees, take note of their physical characteristics, make of vehicle and licence number
Preserve any evidence and be willing to prosecute
Try to hold onto the cheque for the police
In the event you are a victim of a fraudulent cheque, contact the Ottawa Police Service at (613) 236-1222 extension 5433.