2020 is finally here. As we embark on this exciting new decade, we are faced with a unique set of challenges.

Scammers have discovered a simple way to forge legal documents and are looking to take advantage of unsuspecting people. Good news is you can protect yourself by following one easy tip: Stop abbreviating the year.

When the year 2020 is abbreviated, it can easily be manipulated, leaving you vulnerable to fraud. For instance, a document dated 1/1/20 could be altered to read 1/1/2019 or even 1/1/2021.

This could pose several problems. Scammers could alter the date on a stale check and attempt to cash an old check. They could also edit a loan or credit agreement between a borrow and lender and attempt to collect on the debt that’s owed.

While there is currently no evidence that anyone has become a victim to scammers in this manner, it is better to exercise caution and protect yourself from fraud. Just remember our single simple solution: write the full date.

Bank of Southern California is committed to providing resources to help keep our clients’ assets safe and secure. To learn more about how to grow and protect your business, call 858.847.4780 or visit us in person at one of our many offices conveniently located throughout Southern California.