Why Abbreviating the Year 2020 Could Land You In Trouble

[PHOTO/ COURTESY]

New Year 2020 is finally year, and just as usual many people are claiming that it s their year for breakthrough.

However, a little problem has come with the year, that could land you into problems and make you lose massive wealth that you have worked for.

In the other years, abbreviation was not a big threat, but abbreviating the year 2020 is not a good idea, experts have warned.

According to Ira Rheingold, executive director for the National Association of Consumer Advocates, as quoted by CNN, a document dated 1/4/20 can easily be changed to 1/4/2021 by adding two numbers at the end.

Read: Matatu Driver, His Conductor Win Ksh5 Million Bus

The problem could mostly apply to bank cheques or debt contracts. For instance, if you borrow some amount today, from a rogue lender and indicate the date as 01/04/20, the greedy lender can change the date to let’s say 01/04/2018, to demand more in accrued interests.

Most auditors and forensic investigators demand that dates should not be shorthanded like the year 2020 to just “20.”

“It’s just another precaution, another chance to warn people that there are folks out there who will take advantage of you,” Rheingold said.

For all the latest technology and business news from Kenya and the world, follow us on Twitter and like us on Facebook.