Time to start off the new year with new resolutions and new habits!  First we have to remember to write the correct year on our documents.  It’s 2020, after-all, not 2019.  Second, we need to get in the habit of writing the full year for the year 2020. 

Abbreviating the year 2020 on official forms and documents can potentially leave one vulnerable to instances of fraud.  For example, January 7, 2020, if abbreviated to 01/07/20, could be changed to 01/07/2021, meaning January 7, 2021, just by adding the two numbers at the end of the year.

A potential cause for fraud would be with cheques. If old cheques are around, someone could take a cheque that would have been stale dated, example, over six months old, change the date and, now, the cheque is still valid! Say we are in October of 2020 and someone finds one of your old cheques that has since been stale dated.  If the date on the cheque was 01/07/20, it can be changed to 01/07/2021 and now the cheque is valid once again.

A similar situation can happen with contracts.  If the contract date is changed from 01/07/20 to 01/07/2019, and you missed paying a month or so of payments, then the lender could say you owe over a years worth of payments.

These are perhaps far fetched ideas but it is always good to practice safe habits as we start a new year!  It is one habit that may potentially save you money and being a victim of fraud.

Happy 2020!