what prevents people from using the routing and account number at the bottom of the check to steal from the account or write fraudulent checks?
In: Other
Imagine how it will turn out if you walk into a bank with a check that you fraudulently printed, and deposit it into your bank account.
It will leave a paper trail. What they’ll do is print their own checks with these numbers and send the pictures to a unknowing ‘mule’ who thinks they are getting some sort of job lucrative job, with instructions to mobile-deposit that check into their own account and send most of the proceeds out in the form of gift cards or cryptocurrency. The mule is left holding the bag when the fraud is discovered.
There’s usually nothing stopping it but there are lots of ways to get caught. Before a check clears, banks may do additional verification of names or other details on the check which is easier than ever with today’s technology. Before accepting a check, most businesses do ask for ID. If the name on the check is wrong, it won’t go through. If the name on the check is right, it won’t match the scammer’s ID. If they have a fake ID that’s another criminal charge if/when they get caught. And it’s in business’s own interest to check IDs because they are the ones who won’t get paid if the check is bad, it’s not like shady businesses will just let a little fraud happen, they are the victims of it.
It‘s kind of like stealing a credit card or skimming numbers and using it to buy stuff. Nobody’s stopping you at first, but eventually you’ll be on camera using it somewhere, or there will be a record of goods being shipped to your address. And the merchant you paid is the one who ultimately doesn’t get their money when the transaction gets reversed, so they will happily hand any info they have over to police to track you down.
Nothing. I work retail and a best practice (stuff you should always do) I learned when checks were more common was to always put checks in the cash drawer where they can’t be seen. That way a person with good memory couldn’t memorize a check during the brief moment the drawer is open.
As a side note, routing numbers aren’t unique and are Bank specific. 125000024 is the routing number I found on the Bank of America website for Washington state just now. There. I’m halfway to stealing a check.
For clarity, when I say nothing, I mean that anyone who is stealing account numbers know how to do it. What stops me is I know its wrong. What stops you could be the lack of knowledge. Nothing is stopping someone who already does it and they have learned the best way to use the check info to profit.
It is a federal crime, Wire Fraud, and comes with serious penalties.
Realistically **Nothing** is stopping people from doing it, but it isn’t something that can be easily gotten away with.
The punishment for the crime is sever enough that it isn’t worth it to most criminals.
Latest Answers