Asked by Andrea Reyes on Apr 26, 2024
Verified
Accept a postal money order with more than one endorsement
A) best practice (good policy)
B) not a best practice (not a good policy)
Postal Money Order
A financial instrument, purchased from a postal authority, used to pay a specified amount of money to someone else.
Endorsement
The act of giving one's public approval or support to someone or something, or in financial terms, the signature on the back of a check that allows it to be deposited or cashed.
- Discover the most effective practices in check validation to shield from fraud.
- Understand the security risks associated with accepting postal money orders and third-party checks.
Verified Answer
ES
Ekkanat SuvannapongMay 01, 2024
Final Answer :
B
Explanation :
Accepting a postal money order with more than one endorsement is not considered a best practice because it increases the risk of fraud or complications in verifying the authenticity and rightful ownership of the money order.
Learning Objectives
- Discover the most effective practices in check validation to shield from fraud.
- Understand the security risks associated with accepting postal money orders and third-party checks.