11/29/2023 0 Comments Chime bank direct deposit safeThe bank gives the person money from the cash available on hand, known as “float.” Check kiting takes advantage of this “float” system used by banks, by using a check with the knowledge that the account does not have sufficient funds to cover the amount owed. Several banks will credit a check amount before the bank actually has the money from the check writer’s account. Forging a person’s signature to deposit or cash a check, or changing information on the check - such as adding a zero to the original amount (thus increasing its actual worth) - or changing an account number on a check, are all examples of forgery. Forgery occurs when a person presents a check for payment that has been altered or modified. One common form of bank fraud is forgery. Here are the most common forms of bank fraud. There are several types of bank fraud that you should be aware of.
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