Nowadays, for lenders it can be bit difficult to differentiate between real and fake paystubs. Actually, with the rapid improvement in technology, which enables people to generate check stubs, it has made it more difficult to detect. In case, you are in a similar dilemma, here is something very helpful to detect a fake pay stub. Read on.
Are you a lender or an employer?
If yes, then you might be well-versed with the significance of a pay stub. Whenever you are offering a loan or have a job opening in your company, it is the same document which helps you judge the person.
But what if you come across a fake pay stub? Sounds dreadful?
Yes, it is possible. There are a number of methods available which can be used to generate fake check stubs. The major problem is that these are often identical to the real ones up to a great extent.
So, how to make sure that the pay stub you come across is real? Here are some easy ways to distinguish the real pay stub from the fake ones.
Ask for permission to verify a stub:
It is important to first seek permission from the people who offered their pay stubs. Once permission is granted you will verify its authenticity. You must have a form clearly stating, how you own the permission from the concerned people to check the details of their financial statement.
This will include a signature along with the date filled by the individual providing you the permission to proceed for verification.
Begin verification with the business’ existence:
Have you checked for the employer or the firm specified on the pay stub submitted? Do they actually exist? This can be done by checking for the business license from the city, state or country, wherever they operate. Actually, the licensing body of the city keeps details of the person running the business. You can seek their help online and get information from their database.
Alternatively, call up the licensing office and ensure that the business is operating there.
Confirm for the person’s existence/relation to the firm specified:
Once you are sure that the company listed on the document is real, it is time to look a step ahead. You have to ensure that the person whom you are checking is associated with the business.
If you fail to find any evidence to support the individual was employed there, at that particular time, you have spotted a fake pay stub.
Don’t forget to confirm the wages
Many people tend to state a higher figure as a salary. Maybe they are looking forward to get an enormous sum as monthly income. But this is certainly not good for employers or lenders.
To find out if the income is correct, the simplest way would be verifying it through the public and private wage databases. These are available on various public websites. All you need to do is just enter the region and their designation. And it will give you a clear insight on the minimum and maximum level of income.
If you find that the amount stated is not true, it confirms that the pay stub submitted was forged.
Thus, next time you are in the hiring process or are approving a loan, make sure you follow the guidelines stated above.
Have you recently spotted a fake pay check? Don’t forget to share your story of counterfeit check stubs with us. It might help someone in the future!