 However, because many receive funds from the U.S. Treasury via check, there will inevitably be an uptick in check scams, as fraudsters hope to make extra cash. There are already fraudsters trying to scam people by sending out bad checks, as they print and send checks that look similar to the U.S. Treasury’s. Here are some helpful tips to help you understand what a check scam is and what security features the U.S. Treasury has implemented so that you can cash your check with ease. What is a Check Scam?According to the Federal Trade Commission, a fake check scam consists of an individual sending you a check for more money than you anticipated, and requesting that you send money back, usually via wire. The scammers typically explain away the over payment, but entice you to cash the check by avoiding taxes, fees or something similar. They anticipate you depositing the check and wiring the money quickly - too quickly to notice that the check may look odd. By the time the bank discovers the check is bad, the scammer is long gone with your money, and you’re left paying back the bank. Check scams have been around for a while, however, the FTC reports that there is a steady increase in scams over recent years, especially around tax season or when there are nation-wide checks being issued by the government. U.S. Treasury Check Security FeaturesAs you are on the lookout for check scams, the U.S. Treasury has built-in security features on their checks to help you decipher whether or not your check is fraudulent. Here are some things to look out for on a U.S. Treasury check, so that you can tell the difference between the real deal and a fake check.
Example of U.S. Treasury Check MicroprintingOne thing to take note of on a U.S. Treasury check is microprinting, which are words printed so small they appear as a line. However, under a magnifying glass, the line is revealed to be tiny text that cannot be duplicated by an ordinary copier. When a check is counterfeit, this microprint will appear as a solid line or series of small dots. Currently, there are three areas microprinting is utilized: bottom line above the Magnetic Ink Character Recognition (MICR) line, signature line on the back of check, and on the garment of Lady Liberty.
Example of Micriprinting Treasury SealAnother security feature of a U.S. Treasury check is the seal. The U.S. Treasury has a distinct seal, which states the “Bureau of Fiscal Services.” There is also an old seal that is still in rotation that states, “Financial Management Services.” Any other seal will expose the check to be fraudulent. Example of Treasury Seal Bleeding InkThe U.S. Treasury also instituted bleeding ink for the treasury seal. When moisture is applied to the seal, the ink will “bleed” red, proving that it is an authentic check from the U.S. Treasury.
Example of Bleeding Ink on U.S. Treasury Seal WatermarkWatermarks are another security feature the U.S. Treasury employs to ensure their checks are authentic. The watermark you can look out for reads “U.S. Treasury,” which is visible from the front and back of the check when held up to a light. The sheerness of this watermark makes it so that it cannot be reproduced by a copier. Any check you receive that does not have this distinct watermark is fraudulent.
Example of Watermark on Treasury Checks Ultraviolet OverprintingFor those that might have a black light, you can find ultraviolet overprinting on the right and left-hand side of the check. On the right is the United States eagle and on the left is four lines of “FMS,” with the FMS seal bordering both sides.
Example of Ultraviolet Overprinting When it comes to deciphering whether a check is fraudulent, relying on security features should be your first line of defense! These features are in place so that you can rest assured knowing that you are not depositing bad funds into your account.
Blackhawk Bank wants you and your family to stay safe and secure. Contact us today to learn more about how we can help you! Author: Jessica Hendon VP Physical & Information Security Why did I get a federal student loan refund check?If you made voluntary payments between March 13, 2020 and Dec. 31, 2022 and your current loan balance is less than your maximum forgiveness amount, you will receive automatic refunds for your payments after you're approved for student loan forgiveness.
Why did I receive a check from the US Department of the Treasury Bureau of the Fiscal Service?It sounds like your refund was offset by the Bureau of Fiscal Services for a debt you owed--either back taxes, child support or delinquent student loans. The IRS will send you a letter of explanation in several weeks.
Why is the U.S. Treasury sending out checks 2022?Tomorrow the Treasury Department will send out 8.210 million advance payment checks to taxpayers for more than $3.467 billion in tax relief. These checks will be sent to taxpayers whose last two digits of their Social Security numbers are 30-39.
Are federal student loans being refunded?That is, if you qualify for $10,000 in cancellation but paid the balance down to $8,000 during the pandemic, your balance of $8,000 would be discharged and the remaining $2,000 would be refunded. While that process will be automatic for many borrowers, others will have to successfully apply for debt cancellation first.
|
Federal student loan refund check from united states treasury
Related Posts
Copyright © 2024 boxhoidap Inc.
