David Hyde of Jewelers Mutual Insurance Company reported to the North Carolina Jewelers Association (NCJA) that recently two NC jewelers were given bogus certified checks. The customers came in to shop, priced an item and returned the next day with a certified check for the exact amount.
Recommendation - have a listing of the telephone numbers for all banks for reference. DO NOT call the number on the certified check.
Hyde also reports that there has been an increase in the numbers of credit card fraud instances which has resulted in chargebacks. Refer to your processors’ recommendations and procedures to minimize these chargebacks.