For some years, the practice of using scam check stubs has been a growing concern in the average company finance department. It has harmed accountants, loan brokers, and startup technology business owners. The problem is to blame for the deterioration of relationships with banks and lenders, leading to fines and legal action.
Scam check stubs are not against the law. However, giving them to anybody as proof of income is against the law. When the information you provide to get housing, apply for a loan, escape taxes, or avoid paying child support, that information is considered illegal fraud.
- 1 What are the Motives Behind Scam Check Stubs?
- 2 How Are Scam Check Stubs Made?
- 3 How to Recognize a Fake Pay Stub?
- 4 Is It Possible to Create Scam Pay Stubs?
- 5 How Can I Get a Scam Check Stub for Free?
- 6 Final Conclusion
What are the Motives Behind Scam Check Stubs?
When applying for credit, pay stubs are the most basic documentation. A pay stub proves that the applicant is employed and that you may trust the loan. According to industry surveys, misinterpretations in the original form account for 80% of false revenues stated in financing applications.
Customers who do not have a financial source of income or who have a modest income may not qualify for a loan without using fake pay stubs. A pay stub proves that the applicant is employed and that you can trust the loan.
How Are Scam Check Stubs Made?
You can make fake pay stubs in several ways. While forging pay stubs is not new, today’s customers use internet sources to make false pay stubs using the services of certain companies that provide fraudulent verifications and references. These websites are simple to navigate and demand basic information to generate a fake pay stub in minutes.
Some video websites have emerged that can instruct anyone interested in making fake pay stubs to acquire a clean bill of health from the ‘loan authorities.’ Some bold customers even fabricate their pay stubs, which is considered bank fraud and may harm a car dealership’s or middleman’s ties with banks and other lenders.
How to Recognize a Fake Pay Stub?
There are a few easy techniques to recognize fraudulent check stubs, whether you are an employer checking out a potential employee or an apartment owner searching for a new renter. Here’s all you need to know about detecting a fake check stub:
1. Make the Calculation.
Did you know that one of the least liked subjects in school is mathematics? Fake check stub writers, on the other hand, despise math. Calculating the numbers is one of the most effective techniques to identify fraudulent pay stubs. A basic calculator is all you will need. You can even use your smartphone’s calculator.
To begin, tally your earnings and compare them to the totals. Also, look through the deductions. Make that the deducted money is subtracted from the total and correct the math. You know you are staring at a bogus pay stub if anything does not add up.
2. Examine it thoroughly.
Although many different pay stubs are available, fraudulent pay stubs frequently contain errors. The decimal lines may not always appear in the same row. That is a significant warning sign. Some use Accounting software to make real pay stubs, and accounting software requires that all of the figures match. If the numbers and decimal places are not all on the same ruler-straight line, you are dealing with fraud.
3. Make sure that the decimals are correct.
Every pay stub is meticulously detailed, down to the last penny. Any missing decimals should raise the alarm in your mind. The dollar sign might be present or absent, but the decimals must always be present. Real check stubs account for each penny; however, fake pay stubs do not.
4. Examine the Typefaces
fake pay stubs usually have Flowery typefaces. The typeface on real pay stubs is always calm and calculated. There is a rationale behind it. Accountants utilize ordered, robotic-looking typefaces to enable computers to interpret numbers quickly and effectively. Always verify the typeface on a pay stub.
5. Obtain a final approval
Paycheck stubs are not the only way to figure out a potential renters or borrower’s income. If you find a couple of their check stubs and notice anything is not quite right, you may always have them fill out an IRS 4506 T form. Once you complete the form, you send it to the IRS, who will retrieve the figures from the previous year’s report. You will be able to view what they reported as income in detail. If you suspect any fake pay stubs, filling out the questionnaire will offer you complete confirmation.
Is It Possible to Create Scam Pay Stubs?
Making your pay stubs is legal, and Check Stub Maker makes it simple. Faking pay stubs to apply for loans and other things, on the other hand, is against the law. Though it is simple to make false pay stubs for free online, it is illegal, and while it generally results in a fine, some people may face jail time in severe circumstances.
How Can I Get a Scam Check Stub for Free?
While it is illegal to generate check stubs for free, Check Stub Maker’s generator is simple to use and comes with a money-back guarantee. You may find several websites providing scam check stub templates by simply browsing the Internet.
Download the template and “fill in the blanks” with whatever information the buyer desires. Some websites even provide a variety of template layouts and colors to choose from and the ability to build W2s. Other sites feature a 24-hour support crew that can guide you through the process and answer any queries you might have. They will handle the arithmetic, and your employees will receive genuine check stubs through email. Check stub maker service helps you save money and time.
You can create a scam check stub that looks quite real in only a few minutes. Let us say your monthly rent is $1,500, and you need a 3-1 rent-to-income ratio. Irrespective of the amount they make, applicants may quickly fabricate a pay stub showing their actual employment and a $4,500 or more monthly salary.
Check Stubs maker can help you save time and money. You may make professional check stubs for your employees with an online check stub maker. You will save money since you will not have to spend money on expensive software or learn to be an accountant with each paycheck. They offer an online calculator that records the tax rates in the locations where your employees live when you utilize Check Stub Maker.