U.S. Treasury Check Fraud Alert!

​Please be aware and vigilant when accepting checks from the U.S. Treasury to protect your credit union and your members. 

A Bismarck/Mandan area credit union has reported they were the victims of a U.S. Treasury check fraud. At least one other North Dakota credit union has also received a fraudulent check.

Upon further investigation and as reported by the local police department, this specific fraud is surging nationwide. Please be alert and vigilant when accepting paper checks from the U.S. Treasury to protect your credit union and your members, who may not be aware of this fraud.

Scammers target individuals by sending counterfeit U.S. Treasury Checks, claiming they are legitimate and issued by the U.S. Treasury. The checks may reference tax refunds, government grants, Social Security, or other government funds. The scammer then informs the recipient they have overpaid them or they have not deducted processing fees and asks the recipient to return the excess funds via wire transfer. The recipient becomes the unwitting victim of this scheme, along with their financial institution.

Recognizing a Counterfeit US Treasury Check
These checks may appear legitimate at first glance with watermarks and official seals. The checks may even pass the Bureau of the Fiscal Call Center used to verify payment.

It is essential to familiarize yourself with the security features of valid U.S. Treasury checks. This includes recognizing proper watermarks, ultraviolet overprinting, and microprinting.

To review security features, follow this link: U.S. Treasury Check Security Features.
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BOTTOM LINE: Know your member, and your member should know their financial situation/expectations when depositing an unexpected check.