Because the development of the check, people have been constantly developing new methods to pass fraudulent checks. The National Check Fraud Center approximates that 1.4 million deceptive checks are written each day, costing companies over 10 billion in losses each year. With the advent of MICR toner and desktop laser printers, anyone with the ideal software, an HP LaserJet printer and blank check stock can print a check.
As a business owner, you and your company are prone to examine fraud; however, there are methods to guard against it. Here are 6 steps that you and your company can follow to successfully defend against check fraud.
Generally a company orders inspect stock from a company like Harland or Deluxe and they put the checks in a supply room or closet. 구글백링크 These unused checks are a goldmine for any unethical individual that runs throughout them – all they have to do is grab a check from the bottom of the pile, eliminate it. In all probability, you’ll never know that last check is missing up until at least a month later on, and that’s if you are lucky and you routinely reconcile your check book and examine each deal.
In 1993, we had a worker that unwisely stole the last page in our check book. We never ever understood they were missing. Our Ex-Employee filled them out to herself and passed them as payroll checks at an utilized car dealership. She did get that vehicle and several weeks later on my partner’s wife observed the uncommon checks. Had she not observed the problem who understands just how much more cash would have been taken before we got sensible to it. Long story short the bank had to eat the bad checks and they lost no time at all making certain the case was prosecuted to the complete level of the law. We were fortunate and it just cost us time. Had actually the staff member been licensed to sign checks we would have lost the cash.
By printing your own checks you just stock blank check stock and a MICR toner cartridge. There is nothing to take with your account info, they have absolutely nothing but a piece of blank check paper. Obviously you are still open up to a new kind of scams if somebody is able to access your check printing software. Make sure it’s password safeguarded and your network rights are setup so that common users can’t access the directory site that it resides in.
Another fantastic benefit of printing your own checks actual time is that if you move our change savings account, you lose absolutely nothing. Just modify your address or account numbering in your check printing software application and you’ve made the switch– No wasted checks, no squandered cash, no awaiting new checks.
2. Buy Secure Check Stock– When picking a blank check stock, make sure the check stock is packed with security functions– this will make it hard for a scammer to copy or scan the check. Recently the US treasury department invested millions adding security features the recently redesigned notes. A number of these same security features are now offered for check stock. Here are some security features to look for in check paper:
Photo Copier Void Pantograph– This triggers 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 precise that the VOID is not visible to the human eye, but when copied or scanned they appear making the copied check useless.
Micro Printed Border– This same technology is utilized on new United States currency – amplify the border line around the picture on the face of one of the freshly created United States expenses and you will see the border that seems a line is actually consisted 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 utilize chemicals to remove the existing composing to change the amount or to whom a check is written to. When it comes in contact with solvents or chemicals making the check unusable, chemically reactive check paper will alter colors.
Watermark– Check paper with a true watermark will appear when held up to the light. A watermark will not be visible on a copied or scanned check.
Listing of security functions– A good check stock will note the security features on the back of the check. What good is a security function if nobody knows what security features to search for?
3. Positive Pay File Transmittal– A terrific method to stop check scams is to generate a positive pay file and transmit it to your bank. Every time you print a batch of checks, you transmit a favorable pay file noting the checks and their amounts to your bank. If a check amount is transformed or a check is duplicated the bank will decline it since it does not match the favorable pay file. Positive pay is relatively typical in big companies, but a small company may not have the resources or the software to produce the file and transfer it. Contact your bank about this service.
4. Inspect Storage/ Access– One key to avoiding check fraud is eliminating, or a minimum of, decreasing access to documents with your bank account number on them.
Mail Theft– Mail theft is an extremely common method checks
Considering that the innovation of the check, people have actually been continuously creating brand-new methods to pass fraudulent checks. With the introduction 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.
Purchase Secure Check Stock– When choosing a blank check stock, make sure the check stock is packed with security features– this will make it challenging for a scammer to copy or scan the check. Every time you print a batch of checks, you send a positive pay file listing the checks and their quantities to your bank. If a check quantity is altered or a check is duplicated the bank will decline it because it does not match the favorable pay file.