Chapter 9

GREATEST DANGER TO BANKS

Check-Raising Always a Danger--A Scheme Almost Impossible to Prevent--The American Banker's Association the Greatest Foe to Forgers--It Follows Them Relentlessly and Successfully--Chemically Prepared Paper and Watermarks Not Always a Safeguard--Perforating Machines and Check Raisers--How Check Perforations Are Overcome--How an Ordinary Check Is Raised--How an Expert Alters Checks--How Perforations Are Filled--Hasty Examination by Paying Tellers Encourages Forgers--The Way Bogus Checks Creep Through a Bank Unnoticed--A Celebrated Forgery Case--Forgers Successful for a Time Always Caught--Where Forgers Usually Go That Have Made a Big Haul--A Professional Crook Is a Person of Large Acquaintance