Fake American Express Travelers Cheques on the rise

by eyetee | April 7, 2008 12:00 am

[1]Jewellers Vigilance Canada (JVC) is warning retailers to be on the lookout for counterfeit American Express Travelers Cheques.

With a rash of fakes being circulated worldwide, JVC says caution should be exercised and suggests the following security features be noted:
• watch the customer countersign the cheque and compare the signature to the original;
• check for the Centurion watermark in the white area while holding the cheque to light (the Centurion on the left and the Centurion watermark should be facing the same direction);
• look for the ‘AMEX’ security thread in middle area while holding the cheque up to the light—fraudulent cheques will have a blurry ‘AMEX’ security thread or none at all;
• view the holographic foil at various angles to see image and colour changes between Centurion watermark, denomination, and the American Express logo; and
• apply the smudge test to the back of the cheque. Both left denomination panels will smear when wet, while the right panels won’t. This is one of the easiest and most effective tests for authenticity.

Other indications of fraud may include:
• the customer presents $500 or $1000 Travelers Cheques, which are rarely sold and thus more likely to be counterfeit;
• the customer presents a gift cheque with a denomination greater than $100 (American Express only produces $10, $25, $50, and $100 denominations);
• the cheques were received through an online or Internet transaction;
• the cheque shows obvious signature alteration, erasure, or overwriting, or appears to have been washed;
• the customer makes multiple small purchases with cheques in large denominations;
• the customer indiscriminately purchases merchandise without regard for value, size, or colour; and
• the customer appears mainly focused on completing the transaction and receiving the cash difference.

Retailers are encouraged to call American Express at (800) 525-7641 if they have any questions or suspect fraud.

Source URL: https://www.jewellerybusiness.com/news/fake-american-express-travelers-cheques-on-the-rise/

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