I have had two check stolen and altered this way. They use nail polish to cover up the dollar amount and then write in a different dollar amount and payee and deposit the check electronically where any oddity may go unnoticed. The accounts I assume are set up online with a fake identity and the money stolen virtually immediately. I tried to get more information from the bank about how this scheme actually works and that's all I know. But it happened to me twice - once on a personal check and again on a business check - and I know several people that got hit here on the NW side of Chicago.
I have had two check stolen and altered this way. They use nail polish to cover up the dollar amount and then write in a different dollar amount and payee and deposit the check electronically where any oddity may go unnoticed. The accounts I assume are set up online with a fake identity and the money stolen virtually immediately. I tried to get more information from the bank about how this scheme actually works and that's all I know. But it happened to me twice - once on a personal check and again on a business check - and I know several people that got hit here on the NW side of Chicago.