Forged Check
A check that has been altered or created without the permission of the person or entity named as the payee. It is a form of fraud.
More Details
A forged check is a check that has been altered or created in a fraudulent manner. Forging a check can involve changing the amount written on the check, altering the name of the payee, or creating a completely fake check.
Example
You were selling items at a local marketplace and a payer attempted to use a forged check in order to pay for the goods.You contacted the issuing bank to report this check and they started an investigation.
Related Terms
Jumbo Loans
A type of mortgage that exceeds the conforming loan limits set as eligible for purchase by government-sponsored enterprises.
Remittance
A financial transaction in which money is transferred from one person to another, typically to support family members or other loved ones.
Compound Interest
Interest calculated on the sum of a principal and accumulated interest from previous periods.

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