You are signed in as: | My Account |
US SITE
Go to Canadian site |
Bank quality checks without draining your bank account.
We use fewer checks these days, but criminals are attacking them more than ever.
Just 20 years ago, Americans walked around with cash in their pockets and always had a checkbook within easy reach. Most bills were paid by check through the mail.
But nowadays, most Americans expect to pay everything with debit and credit cards and bank drafts.
Much fewer paper checks.
So, the number of checks being used has dropped dramatically in the last couple of decades. And that would make you think that check fraud would also drop dramatically.
Not so. In fact, check fraud is on the rise.
Each check written today is more likely than ever to present risks… Checks are still the leading target for attempted fraud, according to the Federal Reserve. In the near future, the ramp-up of EMV-chip cards--which are even more difficult to abuse--may once again make checks a more attractive target for fraudsters. Any further increase in fraudulent checks carries a disproportionately higher risk of loss because the average amount of a check transaction far exceeds that of card payments.
In other words, because electronic payments are becoming more secure…and people are using checks only for high-dollar amount transactions…they are even MORE attractive to criminals.
So, now is not the time to get careless about the security features on your checks.
According to check security experts, business checks should have several security features to deter check fraud criminals.
Here are some security features and procedures to consider for your checks…
The more security features in your checks, the more likely that you will persuade criminals to move on to easier pickings. You don’t have to have the most secure checks on the planet, you just cannot settle for having poorly protected ones!
That makes you a target.
And you’ll be surprised at how little it costs to protect your checks in this age of increasing check fraud.
Sources:
http://news.cuna.org/articles/109023-despite-rise-of-e-pay-check-fraud-threat-remains-high-study
All product names, brands and trademarks are property of their respective owners.