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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
Beneficiary
A person or entity that is entitled to receive the benefits or proceeds of a trust, insurance policy, or will.
Deferment Period
A specified time during which loan payments are temporarily suspended or reduced.
Home Equity
The current market value of a homeowner's property minus any outstanding mortgages or liens on the property.

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