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Be aware of phishing attempts in which individuals spoof our main phone number, and call clients claiming to be from ConnectOne Bank in order to acquire financial information.

ConnectOne Bank employees will never call you to ask you for your online banking password or token numbers, pin, or personal information.
If you receive a suspicious call, text or email from someone claiming to be a ConnectOne Bank representative do not share any information or reply. If it is a suspicious call, please hang up immediately and contact either your local banker or our main line at 844-266-2548 to report the incident. 

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Be aware of phishing attempts in which individuals spoof our main phone number, and call clients claiming to be from ConnectOne Bank in order to acquire financial information.

ConnectOne Bank employees will never call you to ask you for your online banking password or token numbers, pin, or personal information.
If you receive a suspicious call, text or email from someone claiming to be a ConnectOne Bank representative do not share any information or reply. If it is a suspicious call, please hang up immediately and contact either your local banker or our main line at 844-266-2548 to report the incident. 

ConnectOne Bank | A better place to be
Main Site Search

Check Fraud Prevention

Safeguard your finances
Protect Yourself From Falling Victim

Did you know that writing checks could put you at risk of fraud? Check fraud is on the rise and our team is here to help you stay safe.

  1. What is check fraud? 
    According to American Bankers Association (ABA), check fraud is a term that covers a variety of financial crimes involving the use of stolen or counterfeit checks at financial institutions. It’s the most common type of financial fraud reported at U.S. depository institutions, according to data from the U.S. Treasury Department’s Financial Crimes Enforcement Network1.  

    Some check scams that take place involve having a victim deposit a fake check, to then send money to a fraudster. Other times, a criminal may intercept a check and "wash" it to make changes to the check before depositing it themselves.
     
  2. What is check washing? 
    Criminals can steal paper checks from the mail by taking them out of mailboxes. They may also target postal workers or intercept checks sent to charities. After obtaining a check, the criminal "washes" the ink off to alter the payee or amount, to then deposit the funds to their account. If a check you mailed was paid but never reached the intended recipient, you might be a victim of check washing.

We encourage you to implement the proactive measures below to safeguard your business against check fraud risks. Click through the tabs below to get a better idea of how to safe guard your finances.

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Mitigate the risk of falling victim to mail theft-related check fraud schemes. Below are some tips to keep in mind to help protect yourself:

  1. Pay Digitally. Reduce the number of checks you send by opting for electronic payments whenever possible. Consider utilizing card or other digital payment methods like Zelle® or Bill Pay instead. They are not only more convenient but are often more secure.

  2. Prompt Mail Retrieval. Do not leave mail containing checks in your mailbox for extended periods. Pickup your mail soon after delivery to reduce the risk of theft.

  3. Secure Mailing Options. Public and unsecured mail slots, especially those with flags raised indicating outgoing mail, can be intercepted and compromised by thieves. Instead, use a secure postal service or direct drop-off location to send checks.

  4. Routine Statement Reviews. Make it a habit to review your bank statements promptly and thoroughly. Early detection of any discrepancies can be the key to a swift resolution.

  5. Write With A Gel Ink Pen. If you do hand-write checks, consider the type of pen you use. A black gel ink pen is best, because the gel seeps into the fibers of a check and will make it more difficult to alter.

  6. Fill in the Space. Don't leave empty space in the payee section or amount lines. Make a line or marking to complete the empty space.

We understand the importance of every financial decision your company makes. Follow these helpful tips to make sure your business accounts stay secured.

  1. Implement Positive Pay. Positive Pay is an automated detection tool that protects your business against altered, forged, and counterfeit checks and electronic payments. 
  2. Utilize Bill Pay. Services like Bill Pay can help reduce check fraud by using more secure payment methods than handwritten paper checks, which can be washed. Banks opt to electronically transfer funds to the payee. However, if the payee does not accept electronic payments, a digitally typed and printed check will be sent on your behalf.
  3. Pay digitally. Reduce the number of checks you send by opting for electronic payments whenever possible. Instead, consider using card or other digital payment methods like ACH or wire transfers. These methods are more convenient and usually more secure.
  4. Share the knowledge. While it is our goal to protect you and provide you with fraud prevention best practices, it is important to share your knowledge and ensure your staff is aware of the check fraud safety measures.

 1. Pause payment from account impacted. If you haven't recovered the money, make sure you don't reissue any checks until you are confident that your account isn't compromised.

 2. Contact your bank. They may freeze your accounts or block withdrawals to prevent further fraud. Since fraudulent checks can clear quickly, an immediate response is critical to minimize losses and improve the chances of apprehending the criminal.

 3. File a police report. 

 4. Report fake checks received by mail to the U.S. Postal Inspection Service and report counterfeit checks to the Federal Trade Commission.

Once you've notified the relevant parties, work with your bank to recover the losses. Depending on how the fraud occurred, they may be able  to restore the funds to your account.

If you feel you've been a victim of check fraud, contact us for support.

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As part of our commitment to transparency, please remember that following these recommendations does not guarantee protection against all possible fraud. However, they will significantly diminish the risk and impact of any potential fraud on your accounts. Positive Pay is a fraud-detection service for ConnectOne Business Checking accounts only. Fee structure for Positive Pay is as follows: 1-2 accounts: $50.00, 3-4 accounts: $100, 5+ accounts: $150.

1Source: 2024 ABA Communications Guide

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