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#123415 - 10/17/03 06:29 PM Stop Pay on Cashiers Checks - FDIC Special Alert
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
The following is an excerpt from an FDIC special alert issued today:

The Federal Deposit Insurance Corporation (FDIC) was notified by the Nevada State Bank, Las Vegas, Nevada, that four official checks numbered 458682644, 458682645, 458682646, and 458682647 were mistakenly issued to an individual who fraudulently represented herself as a bank customer. The attempted fraud was discovered shortly thereafter, and a stop payment has been placed on the checks. A copy of one of the checks (void) is attached for your review.

I am posting it here only because I think it profoundly odd that the FDIC distributed it. Stopping payment on a cashiers check? Who is the FDIC attempting to protect here? Do you think they will make a practice of this?
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#123416 - 10/17/03 08:19 PM Re: Stop Pay on Cashiers Checks - FDIC Special Alert
WildTurkey Offline
Platinum Poster
WildTurkey
Joined: Jan 2003
Posts: 921
Down South, USA
It would be interesting to know the face value of these instruments. .... That may shed some light on why the FDIC has got involved.
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This is my opinion; it is not legal advice, nor the view of my employer, and it may change tomorrow.

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#123417 - 10/20/03 02:58 PM Re: Stop Pay on Cashiers Checks - FDIC Special Alert
Johncrcm Offline
100 Club
Joined: Dec 2002
Posts: 195
Eastern KY
Giving credit to the KY Bankers Assoc., Kentucky along with a few other states is a member of www.fraud-net. com. It has warnings which affects this bank regionally, state wide, and nationally.
Several recent alerts have noted the subject of stolen, reproduced cashier's checks presented to banks for cash and loan account payoffs. I also wander how long it will take for the banking industry to make a decision on how long the life a cashier's will be. I believe it will take several large losses to get the attention.... I think bankers will be receiving more and more verification calls regarding the issued check number, amounts, and authorized signature. What's the alternative, fed wires maybe.

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