Training Employees to Detect Fraudulent or Counterfeit Cheques

By QuickBooks Canada Team

0 min read

Even though electronic payments are becoming more and more popular, cheques are still a common form of payment in Canadian businesses. Counterfeiting is an unfortunate reality of business, and you should train your employees to recognize fake checks to avoid losses.

First, employees should be trained to understand the basic information found on all checks. The series of numbers at the bottom include the institution code, branch transit number, and account number, and are always presented in a similar way. Also, almost all checks have safety features incorporated in them. On the back of the check, the features are described.

The best training you can give employees is that, when in doubt, ask questions and if the answers are unsatisfying, ask for another form of payment.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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