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Tackling fraud scams

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Accompanying the April 6 article “Fraud Traps Await Unwary Associations” was a sidebar titled “Built-In Safety Checkpoints.” The first item in the list is “Require two signatures on checks . . . greater than $500.”

Most banks will not honor a request to require two signatures on a check for it to clear, especially for amounts as small as $500. They claim that automated processing of checks makes it impossible to monitor the number of signatures.

Some years back, I tried to get the California Legislature interested in mandating banks to honor such requests from nonprofit organizations, which would include homeowner associations.

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However, my effort was unsuccessful because so many banks claim federal laws exempt them from such state mandates.

David E. Ross

Oak Park

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