What is cheque fraud?

Cheque fraud is the use of a cheque to obtain financial advantage by:

  • altering the cheque (payee/amount) without appropriate authority
  • theft of legitimate cheques and subsequent alteration
  • the use of false invoices to solicit legitimate cheques
  • depositing a cheque into a third party account without authority
  • Issuing a cheque when there are insufficient funds are in the account to cover the cheque.

Cheque fraud can be conducted by internal and external parties to your accounts.