https://www.vox.com/the-goods/2019/8/19/20808526/cashiers-checks-online-scams I suspected that some sort of technological change had happened over the past 10 years that made cashier’s checks easier for scammers to manufacture. Maybe the printers became cheaper? Ink became easier to replicate? Instead, I found that a few federal laws are responsible for failing to contain the potentially disastrous mess of our shared online world. In August 1987, Congress voted the Expedited Funds Availability Act into effect. This regulation requires that banks give customers their money from cashed checks after a certain amount of time; for most cashier’s checks these days, this means funds must be available within 24 hours. In effect, this act is a compromise between security and convenience, and gives banks less than a day to verify a check. Banks are also obligated to put most checks through a weeks-long clearing process. Together, these rules put banks in a double bind — they have to get customers the money before they’ve verified the checks. Congress has tried to make check cashing more up-to-date. On October 28, 2003, they signed the Check Clearing for the 21st Century Act into law. It was supposed to help banks handle electronic checks more efficiently and allowed the kind of check deposit technology that Mitek Systems provides. However, it hasn’t eliminated the gap between when a bank customer gets the funds from a cashier’s check and when the bank verifies the check is real.