Cheque book and credit card theft and misrepresentation
Cheque book and credit card theft relates to the theft and fraud committed using a credit card or cheque book as a fraudulent source of funds in a transaction. Misrepresentation relates to the fraudulent act of passing oneself off as somebody else with the means to gaining money and goods fraudulently.
Impact
Businesses can lose out on vast sums of money down to credit card theft. It might not always be obvious where the money is going, as somebody from within the business may be committing credit card theft thus making it harder to identify as fraud. Businesses could also lose out on custom if customers see the business to be susceptible to fraud.
Prevention
Ensure your bank has got strong fraud protection. If your business has multiple credit cards, ensure only trusted staff have access to them. Keep track of online banking to ensure that any fraudulent transactions are spotted and nipped in the bud early. To avoid cheque fraud, ensure that only one person is allowed to sign off cheques.
Report it
- Fraud committed against Welsh businesses should be reported to Action Fraud, either, online; or by calling 0300 123 2040
- Action Fraud is the UK’s national fraud reporting centre where you should report fraud if you have been scammed or defrauded.
- Action Fraud provides a central point of contact for information about fraud and financially motivated internet crime. The service is run by the National Fraud Authority – the government agency that helps to co-ordinate the fight against fraud in the UK. Action Fraud work with partners in law enforcement - the National Fraud Intelligence Bureau, run by the City of London Police - to make sure your fraud reports reach the right place
- When you report to Action Fraud you will receive a police crime reference number. Reports taken are passed to the police who may contact you for further information. Action Fraud does not investigate the cases and cannot advise you on the progress of a case.