You may be accustomed to shortening the year when you write out a date on a document - like 1/30/20 - but you might want to think twice before you abbreviate the year 2020.
Abbreviating 2020 on checks or contracts could expose your to fraud risk. Bad actors are constantly looking for ways to alter documents for personal gain. The year 2020 presents an easy opportunity for fraudsters as the abbreviated form of the year allows a bad actor to fraudulently manipulate the duration of a contract or date on a check.
For example, if you write 1/1/20, it can easily be changed to 1/1/2021 and extend the life of a check or contract without your knowledge. Protect yourself by taking the extra second to write out the entire 2020 year.
For more information, check out this recent CNN article