My company received a cashier's check which was deposited. It did not clear my bank as the check was found to be fraudulent. I thought that a cashier's check was guaranteed by the issuing bank.
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Thieves can create realistic checks that look and feel like cashier's checks. On some occasions, bank checks have actually been stolen and used, and in some cases a valid check may be altered. In each of these cases, the check is considered fraudulent because it wasn't being paid in the manner intended.
This isn't a case where the bank refused the check because there was not enough money to cover it, but because it wasn't valid. This would be similar to someone creating a check with your account number on it and cashing it. It wasn't authorized by you and shouldn't be paid.
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Thieves can create realistic checks that look and feel like cashier's checks. On some occasions, bank checks have actually been stolen and used, and in some cases a valid check may be altered. In each of these cases, the check is considered fraudulent because it wasn't being paid in the manner intended. 