
Fraud Protection
Head back to our dedicated hub for the latest fraud trends and useful resources to help protect your business from cyber criminals.
Although cheque use has fallen year on year, corporates are particularly vulnerable to cheque fraud as fraudsters know that many companies issue cheques in high numbers, with envelopes displaying company logos, and contents often visible through envelope windows.1
It’s important that you understand the risks and remain vigilant to protect your business.
Cheque fraud can be split into the following three types:
A cheque created on non-bank paper to look genuine.
A stolen cheque bearing a forged signature.
Where a fraudster changes the details on the cheque, for example the payee or the amount.
Occasionally, Barclays may contact you to confirm that a cheque payment is genuine. We’ll explain the reason for the call, and it's important that you provide all the information requested.
Contact us immediately to report any concerns or suspicions of Cheque Fraud by calling 0330 156 0155.
Accepting cheques on a commercial basis carries a high fraud risk which may be increased depending on the nature of your business, for example if you are supplying goods or services immediately before the cheque is cleared.
In these circumstances you should ensure that your business carries out adequate due diligence for cheque payments including:
To avoid falling victim to the above scenarios you may want to consider alternative safer payment methods, such as electronic payments, particularly for high values.
Head back to our dedicated hub for the latest fraud trends and useful resources to help protect your business from cyber criminals.
Internal fraud is a growing problem for British employers, but ensuring robust controls are in place, as well as addressing employee wellbeing, can turn the tide.
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