Stay Vigilant: Protect Yourself from Fraudulent Checks

As your trusted local Wisconsin bank, we at Farmers & Merchants State Bank want to ensure you are well-informed about the risks of fraudulent checks and how to protect yourself. Fraudulent checks can cause significant financial loss and stress, but with the right knowledge and vigilance, you can safeguard your accounts.

Here’s what to know about fake checks:

• What Are Fraudulent Checks?
• How to Spot a Fraudulent Check
• Steps to Protect Yourself
• What to Do If You Sent Money to a Scammer
• How to Report Fraud
• How F&M Helps You Stay Safe

What Are Fraudulent Checks?

Fraudulent checks are counterfeit or altered checks created to deceive and steal money from unsuspecting victims. These checks can look very convincing, making it difficult to distinguish them from legitimate ones. Common types of check fraud include:

• Counterfeit Checks: Fake checks that are designed to look like they are issued by a legitimate bank.
• Altered Checks: Genuine checks that have been tampered with to change the amount or the payee.
• Forged Checks: Checks signed without the account holder’s authorization.

How to Spot a Fraudulent Check

Being able to identify a fraudulent check is crucial. Here are four signs of a fraudulent check:

1. Unusual Check Numbers: Check numbers that are low or out of sequence.
2. Poor Print Quality: Blurry logos, smudged ink, or uneven fonts.
3. Mismatched Information: Discrepancies between the check’s details and the issuer’s information.
4. Suspicious Requests: Unexpected checks from unknown sources, especially if accompanied by requests to wire money or return funds.

Steps to Protect Yourself

Protecting yourself from check fraud involves being cautious and proactive. Here are some steps you can take:

1. Verify the Source: Always verify the legitimacy of the check issuer. Contact the issuing bank directly using a verified phone number. Call Farmers & Merchants State Bank at 1-888-478-3007 to verify.
2. Monitor Your Accounts: Regularly check your bank statements and account activity for any unauthorized transactions.
3. Use Secure Methods: Opt for secure payment methods like electronic transfers or online banking whenever possible. Make sure you’re accessing a legitimate website and look for the “https” lock icon in the address bar of the browser. Visit our website to log into your account and review it here: Online Banking | Farmers & Merchants State Bank (fandmstbk.com)
4. Report Suspicious Activity: If you suspect a check is fraudulent, report it to your bank immediately. Call us at 1-888-478-3007 to report any suspicious activity.

What to Do If You Sent Money to a Scammer

If you realize that you’ve sent money to a scammer, it’s important to act quickly:

1. Contact Your Bank: Inform your bank about the fraudulent transaction immediately. They may be able to stop the payment or recover the funds. Call us today at 1-888-478-3007.
2. Report to Payment Services: If you used a wire transfer service like Western Union or MoneyGram, contact them to report the fraud and request a reversal.
3. Notify Credit Card Companies: If you used a credit card, contact the card issuer to dispute the charge and report the fraud.
4. File a Police Report: Report the scam to your local police department. This can help in the investigation and may be required for insurance claims.

How to Report Fraud

Reporting fraud is essential to help prevent others from becoming victims and to assist in the investigation. Here’s how you can report fraud:

1. Federal Trade Commission (FTC): Report fraud to the FTC at ReportFraud.ftc.gov. The FTC uses these reports to investigate and bring cases against fraudsters.
2. Internet Crime Complaint Center (IC3): For internet-related fraud, file a complaint with the IC3 at https://www.ic3.gov/.
3. Local Authorities: Contact your local police department or state attorney general’s office to report the fraud.
4. Better Business Bureau (BBB): Report scams to the BBB to help warn others and assist in tracking fraudulent activities at https://www.bbb.org/.

Farmers & Merchants State Bank Is Here to Help

At Farmers & Merchants State Bank, we are committed to helping you stay safe from financial fraud. Our team is always available to assist you with any concerns or questions you may have about check fraud. Here’s how we can support you:

• Fraud Detection Tools: We offer advanced fraud detection tools to monitor and protect your accounts. Learn more about how we protect you here: fandmstbk.com/uploads/userfiles/files/documents/How-We-Protect-You.pdf.
• Educational Resources: Access our online resources and workshops to learn more about preventing check fraud.
• Personalized Assistance: Visit our branches or contact us for personalized advice and support. Find a branch near you here: Contact Us.

View Our Free Security Resources

Stay Vigilant and Keep an Eye Out for Check Fraud

Fraudulent checks are a serious threat, but with awareness and vigilance, you can protect yourself and your finances. Stay informed, stay cautious, and remember that Farmers & Merchants State Bank is always here to help you navigate any financial challenges.

For more information on how to protect yourself from check fraud, visit our website at https://www.fandmstbk.com/ or contact us directly. Together, we can keep your finances secure.