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Welcome dear reader, I have here a story of fact that should be of concern to every person thathas money in a bank account in Australia regardless of its value. To quote a bank advertisementin Victoria of some years past “It’s your money Ralph
”. To assist your comprehension of whathas transpired in this case I have put together a little challenge. I respectfully ask that youparticipate fully in the challenge and to consider the issues and ramifications that result. Forthose of you that this case study has been specifically addressed, I have taken the liberty of “forging” your signature.Let’s assume that I am a thief and have stolen by means various one of your cheques, Ihave made it out to cash for say $500 and forged your signature. The figure below is thatcheque for the purpose of this challenge. If this study has not been specifically addressedto you then the reality will be that I am nowhere near you, and know not your name.Therefore I’ll ask that you ask a colleague to sign your name without actually seeing yoursignature for comparison, etc. That is, ask a colleague or passer-by to forge yoursignature.National Australasian Bank of Fraud
Sometown in Australia
$500.00The Sum of:
Five Hundred Dollars only
Your name is often printed here
Your “Cheque number – BSB – Account Number”That completed we proceed. I, the thief, having forged your signature take your cheque toyour bank account branch; I hand it to the bank teller and I demand $500 in cash.Question 1: At this point what would you reasonably expect your banker to do?
It has been suggested to me that a reasonable course of action would be for the banker toactually check the validity of the document, by at the very least comparing the signatureson the cheque against “
your specimen signature”
lodged by you with your banker forthat precise purpose. The principal purpose of that procedure is for the banker to provetheir mandate to debit your bank account of those funds.
So, now that we have completed the first phase, I am going to change roles; I am nowyour banker. To simulate that specimen signature and for the purpose of comparison byyour “banker”, can I now ask you to place your normal signature close to that of theforged one; and please compare the one with the other.I submit to you that should there be any uncertainty or irregularity between your truesignature and that of the forgery, that it would be reasonable to expect your banker to
The State Bank of Victoria prior to its incorporation within the Commonwealth Bank of Australia.
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