Phi Dang works at her family owned business selling small appliances to retailers. A vendor recently called her asking about a past due bill.
“My vendor said, ‘Hey Phi, you didn’t pay this invoice yet,’” she said.
But Dang had paid the bill. And the check – $14,000 – had already cleared her bank account. But when Dang examined the check, she noticed the payee had been changed.
“And I said, ‘Oh, that’s not my handwriting,’” she said.
Dang pieced together what likely happened. A thief stole the check from the mail, used chemicals to alter the payee, and then took the check to the bank and cashed it.
“I’m so nervous because that’s a lot of money,” said Dang.
Check fraud has exploded since the pandemic – up 365%, according to the U.S. Treasury Department. Those writing checks are losing millions of dollars, and many times, their banks aren’t …