Watch For them!
Summertime is approaching-the time for vacations, trips, souvenirs...and counterfeit traveler's checks! We have had reports from several areas of the country of color copies of traveler's check showing up. And evidently the perpetrators are not particular about which brands. Almost all of the issuers have been hit.
These aren't particularly sophisticated copies. Most of the ones we've heard about are blank on the back-the passers are only color copying the front!
Chain and franchise color copy businesses have, for the most part, been alerted to the situation. One man was picked up after being reported by an alert clerk at one photocopy center. He had, in his briefcase, $15,000 worth of photocopied traveler's checks!
Keep a sharp eye out when cashing traveler's checks. You also might want to review Training Page # 3 on Traveler's Check Fraud. (Vol II, No.5-June, 1991)
Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 3, No. 12, 5/93
First published on 05/01/1993