6 Actions To Take When Your Signature Has Been Forged
A signature indicates that you have read and agreed to the terms of a document or transaction and serves as a symbol of your identity and legitimacy. However, what happens if someone forges your signature and uses it to commit fraud? The repercussions could be disastrous, costing you both money and face value.
Consequences of Forged Signatures
Signing something fraudulently can have serious repercussions that may even last a lifetime. Some possible outcomes are listed below:
Financial losses
You could lose a lot of money if someone fraudulently uses your signature to buy things. This is one of the most widespread reasons for cases of forged signatures.
Damage to your reputation
An individual’s ability to obtain future credit, loans, and other forms of monetary aid may be negatively impacted if they are found to have forged a signature.
Criminal charges
Signing something fraudulently opens you up to criminal charges, which might lead to a prison sentence and a criminal record if proven.
Actions to Take When Your Signature Is Forged
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Report the Fraud
Your first line of defense against the fallout of a forged signature is to disclose it to the proper authorities. The next logical step is to report the incident to the authorities. If your signature has been used for fraud, you must notify your bank or credit card provider immediately. It will be easier for the authorities to investigate and take action if you report the scam immediately.
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Review Your Accounts
To assess the level of loss, you also need to check your financial records, such as your bank statements and credit card activities. Keep an eye out for any suspicious activity and file the appropriate reports. You can use this to gauge the severity of the scam and plot a course toward financial restoration.
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Change Your Passwords and PINs
If you find out your signature has been forged, you should first change all of your bank account passwords and PINs. Change the passwords to your email and any other online accounts you may have, including any social networking sites. The fraudster will be unable to access your accounts or use your personal data in any further fraudulent endeavors if you take this precaution.
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Place a Fraud Alert on Your Credit Report
In addition, you should put a fraud warning on your credit record. Potential lenders will then be on notice that you have been a victim of fraud and will be required to take additional steps to verify your identity before extending credit.
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Notify Your Employer
You must inform your employer promptly if the forged signature was used to commit fraud at work. It’s possible that, in addition to safeguarding the business and its assets, your employer will also want to ensure that you’re safe in your position and that the company’s name isn’t tarnished.
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Consult with a Lawyer
You might wish to contact a forensic document examiner about potential legal recourse if your signature was forged. A lawyer can do both if you need help deciding what to do next or filing a case.
Preventions of Forged Signatures
You can take several measures to prevent your signature from being forged. Here are a few tips:
Keep your personal information secure: Never give out private information without good reason. Don’t give out personal data like your SSN, date of birth, or address to anyone you don’t know and trust.
Be careful when signing documents
Be sure the paper you’re signing is valid and that you’re in a safe environment before putting your signature on it. If you have any doubts about the legitimacy of a document, you should get it reviewed by an attorney.
Protect your mail
You should have your mail delivered to a safe place and check it frequently to be sure it hasn’t been opened.
Use electronic signatures
Electronic signatures are more secure and difficult to forge, so you can use them if you’re worried about fraud.
Conclusion
Signing something illegally can have serious consequences, so if you find out your signature has been forged, you should move quickly to stop the forger. You can better ensure that you get your money back and your reputation isn’t damaged any further if you report the fraud to the proper authorities, check your accounts, change your passwords and PINs, notify your employer, and speak with a lawyer.