Cheque Fraud

Avoid Cheque Fraud

One of the best preventative measures to avoid cheque fraud is to keep your cheques in a secure location or under lock and key.  In today’s world there is always the possibility of a fraudster getting access to your cheques and using them to defraud others.  The following tips will help you avoid cheque fraud:

  • Regularly check your transactions through online or mobile banking.  If you see transactions you didn’t do, notify your credit union immediately and they will investigate.
  • If you close your account, shred any unused cheques.  If you don’t have a shredder ask your credit union to shred them for you.
  • Limit the number of cheques you carry in your wallet; keep only the number of cheuqes you will need for the day or a few for emergency purposes.
  • Consider switching to electronic forms of payment, such as pre-authorized payments, debit/credit cards, wire tranfers or e-transfers.  
  • By being vigilant and following these steps you can protect yourself from cheque fraud.