Why the broker checks first
Funders run their own fraud checks, and a doctored statement found on their side does not stay a one-deal problem. It can cost the broker the relationship with that funder. Most altered statements are caught by a few minutes of careful reading. Do it on every file, not only the ones that feel off.
The document itself
Check the PDF
0 of 7The arithmetic
Check the numbers
0 of 5opening balance + credits - debits = closing balance e.g. 6,420 + 71,380 - 69,900 = 7,900
Deposits, names and dates
Check the deposits
0 of 5Check the identity details
0 of 5How to verify
- Ask a neutral question first. "The September PDF opens differently from the others; can you download it again from online banking?" Most innocent problems end here.
- Get the statement from the source. Ask the merchant to download the statements while on a screen share, or to send them straight from the bank's portal.
- Compare against another source. Processor statements, a bank letter, tax returns or a funder's own bank verification all cover the same money.
- Write down what you found and what the merchant said. The note protects you if the file comes back.
- Do not submit a file you believe is altered. Decline it and record the reason.
Not a judgment call to make alone
If you suspect a statement was altered, involve the owner or manager before you go back to the merchant, and do not forward the file to funders while you sort it out.
How the CRM helps
Statements live on the deal, so every reviewer looks at the same files, and your findings go in the deal's notes where the next person will see them. A deal that will not go out can be closed with a reason and a note, so the record shows why.
The CRM does not check statements for tampering today. AI parsing of statement PDFs and bank connect (a link merchants use to connect their bank account directly) are Coming soon; a direct bank connection removes the edited-PDF problem for merchants who use it. See the roadmap.
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