Cheque Forgery

'Most cases end in settlement, not jail,' say lawyers, but ignoring the 15-day notice can trigger court action and credit damage

Lenders have added PPS, a layer of verification system to prevent cheque frauds and protect customers

Several banks including BoB and SBI have issued notifications asking customers to register under PPS before August 1 to encash high-value cheques

Mansinghka had been remiss in allowing a stranger to write the cheque. Disappearing magic ink was used which allowed the fraudsters to alter amount and payee name

Under the 'positive pay' system, a customer who issues the cheque clicks a picture of the cheque before handing it over to the beneficiary and uploads the same on the bank's mobile application

The government wants to change the law, more so in recent months as part of reforms helping business

According to the police, around 30 bank accounts across the country have been compromised