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Home >> Scams/Fraud
Tracking Down Who Forged Endorsement
We are an internet-based company and we get a lot of money orders. All funds are stamped with a deposit only stamp when taken to the bank; however, we just had a money order that was stolen from the company. The customer did a trace on the order and sent us a copy of it. On the back of it is a ten digit number and then the date it was cashed. I want to know what this number is, and if it can somehow tell us what institution cashed this money order, so we can hopefully get some information as to who stole from the company as well as why the cashing institution cashed it in the first place since it was made out to our company only.
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 Tracking down how this money order was negotiated has to start with the party that purchased it or used it to remit funds to you. That person can contact the issuing bank and ask for a copy of its form for claiming forged endorsements or payee non-payment. Your company, as the payee, will have to complete the form, which will be an affidavit, and give it to the purchaser/remitter, who will make a claim against the paying bank. That claim will work its way back to the bank that first accepted the money order for deposit (or cashed it). That bank may be in a position to identify the person who deposited or cashed the money order (and may be, or may know, the thief).
The result should be that the purchaser/remitter will be reimbursed. He or she should by then have already paid you whatever was owed.
Published on BankingQuestions.com 5/02/07
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