Cheque Overpayment Fraud Solicitors in London

Updated on Tuesday 01st October 2019

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Most of the times, businesses are the one suffering over cheque overpayment scams, but even natural persons can deal with such frauds. Cheque overpayment frauds are serious financial crimes met at an international scale, including in UK, and persons accused of such frauds can face imprisonment for several years. If you are involved in such a case, we recommend you get in touch with one of our cheque overpayment fraud solicitors in London and ask for immediate legal advice. Also, victims of cheque overpayment frauds should ask for the legal approach and advice of our criminal defence solicitors in London.

How does the cheque overpayment fraud work?

The mechanism of cheque overpayment fraud is simple, and unfortunately, many people or businesses fall for this type of scam. For instance, a fake customer asks for your products or services for which he or she can only pay with a cheque. The business receives a cheque with a larger sum than the agreed one in the first place. In this case, the customer invents some reasons for the overpayment and asks for the return of the difference. In the end, the financial institution you work with discovers that the cheque is false and you have been robbed. This is the time when normally you cannot reach the client and therefore, you cannot make someone responsible for the cheque overpayment fraud. The first thing to do is to contact the police and report the fraud case, helped by one of our cheque overpayment fraud solicitor in London. It is extremely important to have the support of a criminal defence lawyer in London who has a vast experience in this field and who can handle the entire case in front of the authorities. 

Protection against cheque overpayment fraud

Cheque overpayment frauds develop at a fast pace and are already a worrying phenomenon, as revealed by the Financial Fraud Action in the UK, the institution that works against frauds, alongside the authorities. Luckily, there are ways through which persons and companies can protect against such scams:
  1. It is important to know your clients and collaborators before settling a payment.
  2. Do not accept overpayments under any circumstances, regardless of the excuses of your so-called customer.
  3. Being your first-time client, it is best to avoid cheque payments.
  4. Overpayment cheques should not be taken into consideration when offered, but seriously analysed.
  5. Fraudsters might be quite convincing when it comes to payments. If you feel pressured, maybe you should start a background check of your client.
Even if all financial institutions are aware of the existing scams and methods through which persons and companies are robbed, and invest in their protection systems, fraudsters do find a way of breaching them. This is why some banks might find out quite late about false cheques received from customers. Whether you are a victim of cheque overpayment frauds of accused of such serious crimes, it is highly recommended to get in touch with a cheque overpayment fraud solicitor in London and see what are the first things to do in your case.

False cheque payments – how to stay safe

Cheque frauds have a major impact on a global scale and financial companies all over the world make serious investments in protection systems and their implementation. For instance, in 2018 in UK, unauthorized financial fraud losses through cheques, remote banking and payment cards worth GBP 844.8 billion have been registered, representing an increase of 16% compared to the previous year. However, approximately 85,000 push payment scams have been reported last year in UK. Below you can find facts, statistics, and data about frauds in UK in 2018:
  • gross losses of approximately GBP 355 million represented authorized push payment scams;
  • cheque fraud losses of around GBP 20.6 million were registered in UK last year;
  • cheque fraud worth around GBP 219 million has been prevented in UK in 2018;
  • counterfeit cheque fraud worth about GBP 16 million were recorded by the authorities in UK;
  • there were about GBP 3.4 million forged cheque fraud losses during the past year in UK;
  • the authorities in UK successfully prevented frauds summing up to around GBP 38 million;
  • more than 20.4 billion financial transactions have been registered in UK in 2018.
Unfortunately, cheque payment frauds grew by 109% in 2018 compared to 28% in 2017, a worrying phenomenon that makes the authorities stay more alert.
If you have been accused of cheque overpayment frauds in UK, the first thing to do is to report your case to the authorities, helped by one of our criminal solicitors in London. Feel free to contact one of our cheque overpayment fraud solicitors in London and find out more about the legal advice they can provide.