State Bank of Pakistan has alarmed all banks and customers about the revival of the cheque washing technique that has arose after a few years. According to the notification of SBP, there have been a number of complaints registered on account of the ‘cheque washing technique’ being used for fraud and theft.
Apparently, there has been found a chemical agent that washes away the write up on the cheque for the thief to change either the name or amount mentioned on the cheque. This can lead to many problematic cases including the fact that you could even land in jail.
Following preventive methods have been enlisted by SBP to stay safe from the fraud of ‘cheque wash’;
- Always count the number of cheques when recieving a new cheque book from the bank.
- Keep your cheque book in a secure place.
- If at anytime you feel that your cheque or cheque book has gone missing or been reported in wrong hands, then, alert your bank to stop all transactions from the particular account.
- Keep a check on your account status and whenever you see any difference in the figure of your account details, then attention the concerned department of your bank.
- Do not give away a cheque to any person for deposition or transfer, no matter what the amount on the cheque there is.
- Do not provide any space between your words written on the cheque book for any foul to be played against your will.
- Make sure to use a black ball point specifically when filling a cheque, as it is most secure.
- Do not keep a blank signed cheque.
- Once sending a cheque through post, be very careful.
- If you decide on cancelling out your bank account, make sure to scratch out all signatures before handing back the cheque and bank documentations.