Beware of 'check-washing'—a crook stole $310,000 from this couple and banks won't help.

The article focuses on a case of check fraud experienced by an entrepreneur named Steve, who discovered that a $310,000 check intended for the IRS had been stolen and altered. Despite taking steps to report the fraud to his bank, Wells Fargo, and other regulatory bodies, Steve faced challenges in recovering his funds due to the bank's policies and the time elapsed since the fraud occurred. The article highlights the prevalence of check fraud, with significant losses reported in the Americas, and emphasizes the importance of vigilance in monitoring financial accounts. It also provides recommendations from Wells Fargo and JPMorgan Chase on how to prevent check fraud, urging consumers to consider digital payment alternatives. [Extracted from the article]