Cheque Fraud

Though the cheques usage has been declining with the growing popularity of online banking and card payments, financial institutions still process large volumes of cheques every year.  Cheque fraud can happen in a few different ways:

• Stealing blank cheque / chequebook and misuse by fraudsters by forging your signatures. 
• Altering the cheque details (payee or amount) without appropriate authority.
• Obtaining the chequebook on your behalf by impersonation or identity theft.
• Counterfeiting of legitimate looking cheques with your account details and signatures.

Tips to prevent cheque fraud:

• Safekeeping of your chequebook is your responsibility! Keep track of your cheques and inform the bank immediately if you suspect that your cheques are misplaced.
• Never sign blank cheques, only sign after all details have been filled.
• Do not leave space in front or after the payee name, amount in words and in figures. Unused spaces must be cancelled by drawing lines.
• Write complete payee details (eg, instead of ADIB, write Abu Dhabi Islamic Bank).
• Limit the number of authorized signatures to your account to ensure required control.
• Ensure that your signature is not affixed in documents that can be easily accessed by the third parties.
• You are required to reconcile your bank accounts promptly and regularly. For business accounts, ensure independent overview by the appropriate level of management.
• If you hold business accounts, consider opening separate accounts specifically for higher value cheques, for easy monitoring. 
• Ensure cancellation of cheques having errors, over-writing and destroy all such spoiled cheques.
• Notify ADIB if you have not received an ordered chequebook.
• Register your mobile numbers for service alerts to know the status of your chequebook request and delivery. 

If you notice any unusual/ suspicious transaction on your account, please contact ADIB immediately on our 24/7 Call Center at Fraud Hotline: +971 26100116