Check Fraud and Check Washing
Table of Contents
Introduction _________________________________________________________3
Check Fraud_________________________________________________________3
Check Washing_______________________________________________________5
Union Planters Bank, N.A. v. Rogers______________________________________6
Conclusion___________________________________________________________7
References___________________________________________________________8
Introduction
In 2002 DreamWorks produced a block buster film starring Leonardo DiCaprio and Tom Hanks titled “Catch Me If You Can.” This film portrays the glamorous lifestyle and subsequent fall of perhaps the most infamous check fraud perpetrator of all time, Frank Abagnale. Fraud is defined as “deceit, trickery, sharp practice, or breach of confidence…” (Dictionary.com, 2012). Check washing is when a person would “…erase the ink on a check…and rewrite the check to themselves increasing the amount payable…” (Center, 1995-2009). If you saw “Catch Me If You Can,” this is what you witnessed Mr. Abagnale doing with the Pan Am pilot paychecks. Both of these types of fraud are very simple ways to steal from the consumer when they least expect it.
Check Fraud
According to the National Check Fraud Center, “check fraud is one of the largest challenges facing businesses and financial institutions today.” With the availability of home computers equipped with photograph editing software and the advances in printing technology, criminals are able to create duplicate checks in large numbers without ever leaving their homes. Victims can range from a consumer having a check stolen out of their wallet, an employer with a paycheck copied, or a business who accepts a fraudulent check for purchase of tangible assets. (Center, 1995-2009)
