How to Spot Fake Bank Statements

·         Faking statements is on the rise. Created for the purpose of deception;  

·         Fall under the category of financial statement fraud and accounts for ten percent of corporate fraud cases;

·         $954,000 median loss per incident. Think Enron, (2001) as the most sobering example.

·         Look for mismatched totals; the bank reconciliation does not add up;

·         Inconsistent presentation: Layouts, Fonts and colors do not match;

·         Unusual figures: presence of many round numbers;

·         Spelling and grammar mistakes

·         Outdated Design: Using old Bank Statement versions;

·         Unfamiliar transactions

·         Mismatched logos or visual elements;

·         Strange statement date cycles;

·         Incomplete information, missing pages or details;

·         Lack of verification: Absence of digital signatures or seals;

·         Missing contact information: No address or contact details for the bank.