If you deposit a check not made out to yourself and the teller doesn't catch it, what could happen to both parties involved?
Assuming that the true payee of the check realizes that it's missing, he or she can contact the party that issued it to ask for payment. That can result in a claim that the endorsement (if any) on the check isn't that of the payee, and the check can make its way back to the bank where it was deposited -- up to three years after the fact! Once the bank where the check was deposited receives it, it will have the right to collect the money back from the depositor, who was never entitled to the money in the first place.
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