Check Fraud Victim - Protecting Business Name

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Question:

What can a business owner do to protect their business name after a criminal has printed checks drawn off of their business and is trying to negotiate them around town? We caught the check as a fraud and closed the account. Now the customer is concerned with being reported as a company that writes bad checks.

Answer:

All that can really be done is for the business owner to contact any vendors he might pay and explain that someone had created counterfeit checks on the account and a new account has been opened. Often a bank will cooperate in such an effort by supplying a letter that the business owner can freely copy to share with vendors.

First published on BankersOnline.com 11/12/07