How to Identify Fake Bank Statements

With advancements in technology and savvy scammers, creating a fake bank statement is easier than ever. Whether you’re a property manager screening prospective tenants or an employer verifying an applicant’s income, it can be tough to know for certain whether a bank statement is the real deal or a clever forgery.

Instructions on creating a fake bank statement are readily available via web tutorials and step-by-step YouTube videos. Some companies even offer these services and provide falsified documents for a small fee.

The result? Businesses must constantly be on the lookout for fraudulent bank statements. As forgeries become more sophisticated thanks to AI, having the right tools to spot fraud is crucial. 

We’re looking at the fallout from fake bank statements and how you can catch them before they damage your business. 

Quick Insights

• Fake bank statements are a frequent tactic of scammers during the tenant screening process.
• Accepting a rental application with a fake bank statement can lead to leasing to bad tenants and dealing with the after effects, like property damage or expensive evictions.
• Fake bank statements frequently have tell-tale signs of alterations, like inconsistent formatting, many round numbers, and out-of-date logos.
• Compare bank statements with other application documents, like pay stubs, to confirm authenticity. Even better, contact the bank directly to verify the information.
• Protect yourself by taking preventive steps through robust income verification processes and staying up-to-date on the fraud landscape.

How Fake Bank Statements Hurt Property Managers

Rental applicants often falsify bank statements to make it seem like they have a higher income or more savings than they actually do.

If a property manager accepts a tenant who has misrepresented their finances, they might not be able to pay rent after moving in. The consequences can be severe, ranging from unpaid rent to lengthy evictions.  

Fake bank statements aren’t just in theory. In 2018, the Federal Trade Commission filed three separate cases alleging that three people and their companies sold customers fake pay stubs, bank statements, and other financial documents. 

These companies weren’t subtle on their websites, using proclamations like, “Quality Authentic Fake Forms! Proven to Work!” Before agreeing to permanently shut down their businesses as part of a settlement with the FTC, the companies sold fake documents for between $20 and $150 each. 

“The sale of fake documents makes it easy for identity thieves and scammers to ply their trade,” said Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, in the press release. “This action demonstrates the FTC’s determination to stop those who help people to commit identity theft and fraud.”

For individual landlords, the consequences of accepting fake documents can be severe. One Redditor in the United Kingdom rented a house to a couple who falsified their references, job contracts, and bank statements. 

After moving in, the couple didn’t pay rent, blocked the landlord’s number, changed the locks on the house, and brought two dogs with them that weren’t allowed in the lease. The writer then had to look into how to evict them after local police declined to get involved. 

The problem exists stateside, too. According to a 2022 article in New York Magazine, Renters in New York City regularly inflate their bank statements and pay stubs to meet the 40-to-1 rent-to-income ratio requirements.

Once a tenant is in the property, it’s tough to get them out. Evictions in New York City are famously difficult and drawn out—they can drag on for upwards of six months.

How to Identify Fake Bank Statements on Fraudulent Rental Applications

Unfortunately, the problem of rental applicants providing fake bank stubs hasn’t gone away since 2018. It’s only worsened since the pandemic, based on our “2020 Effects of the COVID-19 Pandemic on Residential Rentals Survey.” The percentage of fraudulently altered applications has increased from 15% before the pandemic to 29% in September 2020. 

And it’s not just that the percentage of fraudulent applications has increased—it’s how often fraudsters get away with it. One in 10 fraudulent applications used to go undetected. Now, it’s one in four.

That increase is partially thanks to the difficulty in detecting fraud digitally. Renters increasingly want property managers to offer the option to apply online and submit digital documents.

According to a 2025 Zillow Consumer Trends report, a quarter of renters said they passed on a property because it didn’t offer the ability to apply online. 

With an increase in fraud and online applications, what can you do to protect yourself from fraud? Knowing how to spot signs of fraud can help you better spot fake bank statements and help avoid evictions, which can cost as much as $7,500 per case. 

Detecting fraud is easier when you have multiple bank statements to cross-reference. Ask for statements from at least the past 90 days and take a close look at each.

Here are the top strategies to identify fakes and protect your property.

1. Look for Inconsistencies

First things first—look out for red flags in the bank statement’s appearance. Genuine bank statements maintain uniform formatting. Each bank typically has a single template that uses brand-specific font, colors, logo, and layout.

Reputable institutions prioritize consistency, so any deviations could point to falsification.  

Here are a few areas to check: 

Decimals. Authentic bank statements include specific amounts, so check for round numbers. Many numbers ending in .00 should be a red flag.

Spacing. If someone has altered a document, document elements—such as columns and numbers—won’t line up.

Brand logo and colors. Check that the logo on the statement is the same as the one on the bank’s website and that it appears in high resolution. Also, check the font and logo colors to see if they match the bank’s website.

Font. Banks may use proprietary or custom fonts (not what you find in Word or Google Docs). If the fonts seem to mismatch, then you might be looking at an altered document.

Typos. Bank statement templates are highly polished documents that go through multiple rounds of editing. Misspellings, typos, or grammatical issues could all be signs of tampering. 

Next, look at financial inconsistencies. It’s easy for a forger to make some math mistakes when fudging the numbers. And even AI can’t reliably add and subtract, so math issues could be a smoking gun.

Ask yourself a few questions to see if the math adds up:

• Does the ending balance on one bank statement match the beginning balance of the following statement?
• Is there an excess of funds but also an excess of overdraft fees?
• Do multiple withdrawals look suspicious, like automatic withdrawals of high amounts?

If the numbers don’t add up, they’re probably fake. 

2. Make Sure the Numbers Check Out

Using the applicant’s bank statements from the previous 30 to 90 days, cross-reference between the statements and other application documents, like: 

Pay stubs. Does the amount on the applicant’s pay stub match the deposits into their bank account?

Current rent. If the prospective tenant has shared their current rent, you should see an outgoing payment for that amount every month. But if you don’t see that amount, ask—some people pay rent in cash.

Employer verification. Employers may share monthly or annual wages in employment verification letters. Make sure that the amount they share aligns with what you see in bank statements.

Other checking or savings accounts. If you have access to other checking or savings statements, confirm that transfers between accounts match across statements. 

And look beyond the numbers to gauge an applicant’s financial health—a key predictor of their ability to pay rent. It’s a good sign if they have regular deposits from the same employer every two weeks or once a month. 

Additionally, consider what the applicant’s average statement balance is over time. If it fluctuates significantly from month to month, you may want to ask for an explanation. 

And remember—bank statements are only one part of a tenant’s financial picture. Look at other important information, like background checks and credit scores. 

“What’s most important is to find applicants who are honest with you. Accurate information and data can help you be more comfortable renting during this uncertain time,” writes the American Apartment Owners Association.

Pro tip: It’s easy to forge one bank statement, but tricky to alter several documents to match each other. Always verify a bank statement’s information by cross-referencing with other documents or with the bank directly.

3. Speak to a Bank Representative

Contact a bank representative directly if you’re uncertain. Whenever you’re verifying a bank statement, find a phone number through your own research—don’t call the number on the document (if the phone numbers don’t match, that’s another red flag).

When you call, ask a representative to confirm the account number. For privacy reasons, the bank may not go into detail, but you can request that they verify the account number and name on the account. 

If the representative isn’t comfortable sharing that information, you can email the document to the bank and ask that they confirm its authenticity. Unfortunately, you may not get much support from the bank.

While some banks try to prevent the manipulation of documents by applying security features to PDF files, these measures are typically centered around protecting investment accounts.

Checking a PDF’s security features isn’t necessarily foolproof. “Inevitably, all PDF files are editable,” writes Peter Davis, CPA, in the article “Fraudulent Manipulation of Bank Statements in Electronic Format.”

“Changes made to bank statements are virtually impossible to identify without having a copy of the original bank statement to compare them to,” he cautions.

4. Take Preventative Measures

Going over bank statements with a magnifying glass isn’t your only defense against fraud. Look for other tactics you can use to be on guard against fake documents, like: 

Investing in the right tools. A robust income verification process is faster and more accurate with fraud detection technology. These services can automatically check for fraud, saving time and increasing accuracy.

Educating your team. Your team should be aware and on the lookout for fraud. Provide regular training on using fraud detection tools and what to do if they find financial discrepancies or suspect fraud.

Staying informed. Fraudsters are always changing the game. Keep tabs on new scams and emerging fraud tactics.  

Look for an automated income verification tool that tracks the trends for you with techniques like fraud forensics. 

Detect Fake Bank Stubs With Snappt

Fraudsters are getting more crafty by creating fake bank stubs that fool traditional inspections. But with a service like Snappt, you can stay one step ahead of scammers. 

Our fraud detection software uses AI-powered image analysis to weed out counterfeit documents in rental applications and tenant screening. And the best part? You’ll have the results certified within 24 hours.

With Snappt’s technology, property managers can spot these fraudulent financial documents that slip by other tenant screening tools. Rather than reviewing documents with a fine-tooth comb, save time by using an automated and accurate tool with robust data security and compliance measures.  

The results speak for themselves. Using Snappt can decrease evictions and bad debt by 51%. If you want to learn how Snappt can help your property, contact us for a free demo or visit our website to learn more.

Prevent Fraud with the Right Tools

Spotting a fake bank statement, fake W2, or other income document may seem daunting at first, but with the right tools and know-how, you can separate forgeries from the real deal.

By closely examining the document for inconsistencies, verifying the information with the bank, and using tools like Snappt to detect fraudulent activity, you can protect yourself from scammers trying to pull a fast one.