Banks Warn of Rising Check Fraud as ’Magic Pen’ Scam Spreads

Check forgery is intensifying to the great regret of banks. According to L’Economiste, which provides the information, the magic pen is the new find to counter the measures taken. The newspaper explains that this pen is imported from China and its peculiarity is that it erases, without leaving a trace, when in contact with the flame of a lighter or with the integrated eraser.

The trick is simple and consists of offering a person the magic pen to fill out a check and then modifying the amount later. Many people have been victims of this in recent months, according to the same source.

In its publication, the newspaper stressed that the sole printer for the State and the private sector has just reviewed the security elements of checks from certain banks, by securing the areas of the amount in figures and the signature against forgery by means of an erasable pen.

Any modification of the check amount can now be easily detected using a tool, reveals a manager of the company, quoted by the newspaper, who adds that the change is that the check always retains the initial imprint of the amount written.