Question of the Week
Posted: Feb 2, 2024 | Author:
Cornerstone League
Question: With fraudulent Treasury checks circulating, what are some resources I can use to verify the Treasury checks we are being presented with are valid?
Answer:
Shown below are a couple of links that pertain to Treasury check security features and verification:
Although TCVS can be helpful, it’s not foolproof. As stated on the TCVS webpage, “TCVS was created as a tool to assist in fraud detection, you still need to verify the security features of a U.S. Treasury check.” Note: TCVS does not tell you if the payee on the check is accurate. Oftentimes, it’s the payee that is altered.
Credit unions can email checkintegrity@tigta.treas.gov for Treasury check verification. Their goal is a 24-hour turnaround time. Your email should provide the serial number, date of check, amount, routing number, and payee name. If possible, Treasury has requested you paste check images in your email. In some cases, the images help them to easily identify altered checks.
An example of an email response a credit union received from Treasury: “The check below was altered. The payee information you provided does not match who those checks were issued to.”
Use of this email service, in addition to the other resources, could ensure your credit union does not experience a large loss.
