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Precaution in handling of Bank Cheques


Many people complaints about "Cheque Washing", a defrauding practice wherein text of a cheque is erased by chemicals and then rewritten with a new payee and amount. The impact of such alteration on the surface of the cheque is difficult or sometimes impossible to detect with the naked eye.
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In the larger interest of the general public, State Bank of Pakistan recommended following preventive measures to minimize fraudulent occurrences when making payments through cheques.
  • Always count the number of cheques on receiving a new cheque book from your bank.
  • Keep your cheque book in a safe and secure place.
  • Immediately notify "stop payment" instructions to your bank on the slightest suspicion that your cheque or cheque book has been misplaced or has fallen into wrong hands.
  • Periodically reconcile your cheques with bank account statement and immediately report the bank if any inconsistency found.
  • Do not issue bearer cheques, even for small amounts, for any kind of transaction until and unless you are fully confident about the payee of the cheque.
  • Always use your own pen, preferably one with permanent ink, to write a cheque.
  • Never leave gaps while writing cheques so that no extra words or numbers could be added by the fraudsters.
  • Never keep pre-signed cheques.
  • Take extra caution while sending cheques through mail.
  • If you close an account, return all unused cheques to the bank after tearing off their signature portion.
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cheque-precautions

We hope that if you follow abovementioned precautionary measures, you will be safe from frauds related to alteration in cheques. So always be careful about any banking transactions.

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