Considering that the invention of the check, people have been continuously creating new ways to pass fraudulent checks. The National Check Fraud Center estimates that 1.4 million deceitful checks are composed each day, costing services over ten billion in losses each year. With the advent of MICR toner and desktop laser printers, any person with the right software application, an HP LaserJet printer and blank check stock can print a check.
As a company owner, you and your business are susceptible to check scams; nevertheless, there are ways to defend against it. Here are 6 actions that you and your company can follow to effectively prevent check fraud.
1. Print Your Own Checks– Real Time – The primary advantage to printing yourself is security. Generally an organization orders inspect stock from a business like Harland or Deluxe and they put the checks in a supply space or closet. These unused checks are a goldmine for any dishonest individual that encounters them – all they have to do is grab a check from the bottom of the stack, remove it. In all likelihood, you’ll never ever understand that last check is missing out on until a minimum of a month later, and that’s if you are fortunate and you frequently reconcile your check book and analyze each transaction. Since that’s exactly what happened to us, we know.
In 1993, we had an employee that unwisely took the last page in our check book. Our Ex-Employee filled them out to herself and passed them as payroll checks at a used vehicle dealer. She did get that automobile and a number of weeks later on my partner’s wife observed the uncommon checks.
By printing your own checks you only stock blank check stock and a MICR toner cartridge. There is nothing to steal with your account details, they have nothing however a piece of blank check paper.
Another excellent advantage of printing your own checks real time is that if you move our change bank accounts, you lose nothing. Simply modify your address or account numbering in your check printing software and you’ve made the switch– No lost checks, no wasted cash, no waiting on brand-new checks.
2. Purchase Secure Check Stock– When choosing a blank check stock, ensure the check stock is packed with security functions– this will make it challenging for a fraudster to copy or scan the check. Just recently the United States treasury department spent millions adding security features the freshly revamped notes. A number of these very same security features are now offered for check stock. Here are some security includes to search for in check paper:
Copier Void Pantograph– This causes the word VOID to appear in the background of a check when copied. A Void Pantograph is developed by engraining an accuracy pattern of lines and dots in the background of the check. The printing of the pantograph is so accurate that the VOID is not visible to the human eye, but when copied or scanned they appear making the copied check worthless.
Micro Printed Border– This very same technology is used on brand-new United States currency – magnify the border line around the portrait on the face of one of the newly designed United States costs and you will see the border that seems a line is in fact comprised of words. Even modern-day high resolution printers can not replicate type this little.
Chemically Reactive Check Paper– A typical method to deface a check is to use chemicals to eliminate the existing writing to change the quantity or to whom a check is written to. Chemically reactive check paper will change colors when it is available in contact with solvents or chemicals making the check unusable.
Watermark– Check paper with a real watermark will appear when held up to the light. 구글상단노출 A watermark will not show up on a copied or scanned check.
Listing of security features– A great check stock will note the security includes on the back of the check. What good is a security function if no one knows what security features to look for?
3. Positive Pay File Transmittal– A terrific method to stop check fraud is to create a favorable pay file and transfer it to your bank. Whenever you print a batch of checks, you transfer a favorable pay file listing the checks and their total up to your bank. Because it does not match the favorable pay file, if a check quantity is transformed or a check is duplicated the bank will decline it. Favorable pay is relatively typical in big business, however a small business might not have the resources or the software application to produce the file and send it. Contact your bank about this service.
4. Check Storage/ Access– One key to preventing check fraud is removing, or at least, reducing access to files with your checking account number on them.
Mail Theft– Mail theft is a very typical method checks
Considering that the creation of the check, people have actually been constantly inventing new ways to pass fraudulent checks. With the arrival of MICR toner and desktop laser printers, any person with the right software, an HP LaserJet printer and blank check stock can print a check.
Purchase Secure Check Stock– When choosing a blank check stock, make sure the check stock is filled with security functions– this will make it hard for a scammer to copy or scan the check. Every time you print a batch of checks, you transmit a positive pay file noting the checks and their quantities to your bank. If a check quantity is altered or a check is duplicated the bank will reject it because it does not match the positive pay file.