Wednesday, June 30, 2010

Phony cashier’s checks going around

June 30, 2010

Image ID 754431 by Stock Exchange user aeropw

Just got an email news update I thought I’d share.

Mechanics & Farmers Bank (NC) reports that counterfeit cashier's checks bearing the institution's name are in circulation. "The counterfeit items display the routing number 053100452, which is assigned to Mechanics & Farmers Bank. The items are similar to authentic cashier's checks. A security feature statement is embedded in a darkened top border and along the bottom border between two padlocks. A box contains the dollar amount. Authentic cashier's checks are light gray with burgundy overtones and have a four-sided design border.

Who’s liable for the value of forged cashier’s checks?

The Federal Trade Commision, in a 2007 publication, said that:

Forgeries can take weeks to be discovered and untangled. The bottom line is that until the bank confirms that the funds from the check have been deposited into your account, you are responsible for any funds you withdraw against that check.

Who do you tell if you think you’ve been given a fake cashier’s check?

  • The Federal Trade Commission Visit or 1-877-FTC-HELP (1-877-382-4357). • The U.S. Postal Inspection Service Visit or call your local post office. The number is in the Blue Pages of your local telephone directory.

  • Your state or local consumer protection agencies (i.e the State Attorney General’s office)

  • In Arizona, that’s Attorney General Terry Goddard, at or 800.352.8431 (local callers, use 602.542.5025)

  • click to visit the source of data above