Details
There is an ongoing Police investigation by the Leesburg Police Department regarding mail being stolen from the outside drop box for the Post Office located on Catoctin Circle in Leesburg, Virginia. It is reported that thieves "washed" all stolen checks that were made payable to organizations or individuals. Those "washed" checks were then sold on the black market. Fraudsters bought those "washed" checks and wrote fraudulent Payees and amounts against those clients' checking accounts, resulting in funds being paid, fraudulently.
What does "Washed" Check Mean?
"Washing" means any information written or typed on a check is removed with chemicals. So Payee names, amounts, and Memo entries are removed. Bank and account information that are pre-printed on the checks remain, making the checks look new and ready for issuance.
PREVENTATIVE ACTION YOU CAN TAKE
Although this particular incident occurred in our Loudoun market, similar incidents can occur in any of our markets and to any of our clients.
To help prevent similar check fraud incidents, please follow these guidelines:
- Make all payments electronically instead of using checks.
- If a check must be used and mailed, drop all mail into inside receptacles at Post Offices. Do not leave them in outside mailboxes or mail drops, including at your home or office mailbox.
- Review your Online Banking daily for checks that clear and review the front of each check to verify a.) The Payee is correct, and b.) the amount is correct.
- If you find a fraudulent check listed in your transactions, immediately call the Client Care Center at 1-800-296-8431. If you are a business Cash Management client, contact CM Support at 304-728-2409.
- If you are a business, register for Check Positive Pay for increased protection. (Fees apply.) For information, visit our landing page, here
WHAT TO DO IF YOU BECOME A VICTIM OF CHECK FRAUD
In addition to check "washing", there are many types of fraud. If you become a victim of fraud, including if you think your check has been intercepted in the mail:
- Contact Potomac Bank and place a hold or stop payment on the check in question. This can be done within Online Banking or you may contact your local branch or the Client Care Center at 1-800-296-8431.
- Continue monitoring your account for other suspicious activity
- Report it to the Postal Inspection Service (https://www.uspis.gov/report )
- Report it to your local police department
- Report it to the Better Business Bureau’s Scam Tracker Tool (https://www.bbb.org/scamtracker)
- Report it to the Federal trade Commission (FTC) (https://reportfraud.ftc.gov)
If you have any questions, please contact your branch Manager directly or call the Client Care Center at 1-800-296-8431. If you are a business Cash Management client, you may contact CM Support at 304-728-2409.
-Potomac Bank Client Support-