Why You Should Never Abbreviate 2020

Friday, March 13, 2020

Signing paperwork with pen

It's a new year and a new decade, but scammers are still looking to con you out of your money. Experts are warning of a new scam involving changing the date on a personal check, financial document, or important papers.

Here’s what you can do to protect yourself:

The 2020 scam

The newest scam of the decade involves the dates on important documents. Most of us are accustomed to abbreviating the date by using the last two digits when writing it. For example, if we were dating a document for March 2, 2019, we might write it out as 3/2/19.

While it was fine to do so in the past, continuing this practice in 2020 can be problematic. The two sets of digits that make up the new year being identical. Abbreviating the date on important documents opens us up to all sorts of scams. It only takes a few seconds for a scammer to change “20” on a document to “2021” or to “2019.” This can lead to multiple problems for the document signer.

What kind of damage can be caused by this scam?  

There are endless ways that date modification can be employed in a scam.

First, let’s take a look at what happens if the date is changed to an earlier year. If a scammer backdates a check that was made out to you, the check may no longer be valid. If scammers add "19" to the "20" you wrote on a contract, it looks like you signed it in 2019. As a result, your contract may no longer be valid. If this scam is pulled off on paperwork for an outstanding debt, your debt will now appear to be overdue. Thanks to this ruse, you might be charged late fees for a loan that is not yet due. Or you may be charged a monthly fee for a time when you did not yet owe any payments.

The other way this scam can be executed is for the date to be changed to a future year. To pull this off, criminals will use the “20” you scrawled for the year, and change it to “2021” or later. Let's say someone signed a document agreeing to start paying you for services you rendered in 2020. They can make it appear as if they don’t owe you any money until next year. Consider the following outcome if you’ve neglected to pay a debt that is already past the statute of limitations. Scammers can modify the year on the documents to make it appear as if you're still accountable for the debt.

This scam is as new as the new year. It's still too early to know what kind of damage it can cause. However, financial experts agree that the threat is very real and precautions should be taken.

Avoiding this scam

As scams go, the 2020 scam is fairly easy to prevent. As you work on breaking free of bad habits and making improvements, add this to your New Year’s resolutions list. Don’t abbreviate the year. Train yourself to write out “2020” in its entirety anytime you date a check, financial document or other important paperwork. This simple precaution will keep you from falling victim to a date manipulation scam. It’s also a good idea to write out the full month when dating an important document. This is especially true in January and February. The “1” and “2” can easily be changed to look like you wrote 10, 11, or 12 as the month. The stroke of a pen can push off the date on your document by nine full months or more.

Remember: the habit that was harmless in 2019 could make you vulnerable to fraud in 2020.