Protect Your Checks

Protect your checks!

Access_Title_Agency_Check_FraudOur Underwriter has shared a story of a title agency falling victim to a fraud scheme involving emerging technology……..depositing checks via Smartphone.

A couple was issued a check for their closing proceeds. They left the title agent’s office but returned several hours later and asked the title agent to wire the proceeds instead. The agent took the check, voided it, and wired the proceeds to the couple’s account. The agent was not aware that the check had already been deposited using a Smartphone which uses the phone’s camera feature to take a picture of the front and back of the check and deposit it into the payee’s account. Unfortunately, there are no markings on the check to indicate that it has been processed since it is scanned.


Note: No legal advice or suggestions are being given.

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