A message has been doing the rounds warning people of the pitfalls of not writing the year 2020 in full in important financial documents and cheques. The message says that if you do not write the date in the format DD/MM/YYYY and instead use DD/MM/YY, unscrupulous people can take advantage of this, according to EconomicTimes.com.
For example, you must write 31/01/2020 and not as 31/01/20. This is because anyone can make changes in the date and can easily modify it to 31/01/2000 or 31/01/2019.
Aditya Kumar, Founder & CEO, Qbera said, “It is important to write the date in the format DD/MM/YYYY and not DD/MM/YY in your financial documents as the “Year” (YY) in the latter can be conveniently changed/altered by fraudsters to represent a wrong year. Consumers can be caught unaware in situations like this and consequently be defrauded by swindlers. Financial data is very sensitive and is often subject to misuse. By following the correct date format that mentions the full year, can ward-off potential acts of fraud and information misuse.”
