With the daily advances in technology to make our lives simpler, comes new and clever ways to scam the system.
Recently, several banks have introduced systems to allow you to deposit your checks using an app on your smartphone to scan the check for instant deposit to your account. How cool.... well, not if your business involves issuing checks to Customers or Clients.
Businesses BEWARE! A new issue has arisen where the payee deposits the check immediately using smartphone technology, then returns the check asking for another form of payment. This way, the 'scammer' gets paid twice.
The best way to stop this scenario from happening to you is to always keep checks securely locked away while in your place of business, and refuse to exchange them for another form of payment once the check has been issued and left the premises.
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