The Secret Service has warned banks in recent memorandums to be alert to the possibility of fraud associated with the issuance of Tax Relief Treasury checks. These checks will have the phrase "Tax Relief for America's Workers" printed on them. You may be seeing them for months to come, because individuals who received extensions to late file their 2000 tax returns will not have their tax relief checks issued until after their late-filed returns are processed. Most of the checks should be in amounts no greater than $600, although IRS says that in some instances the IRS may combine with it another tax refund due the taxpayer that is posted the same week, so the fact that the check exceeds $600 does not necessarily mean fraud.
There's a great page on the Secret Service Web site for learning about security features of U.S. treasury checks. Every institution should print it out and circulate it to frontline staff. For example, it explains the security features that were added to Treasury checks beginning in November, 1997. There's bleeding ink in the Treasury Seal which will smudge red when exposed to moisture. The fluorescent image overprinted in the center
has been enhanced to contain dual fluorescent wavelength bands. There is also information about unique security aspects of the paper and printing.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
