Considering that the invention of the check, people have been continuously inventing brand-new ways to pass deceptive checks. The National Check Fraud Center approximates that 1.4 million fraudulent checks are written each day, costing companies over 10 billion in losses each year. With the introduction of MICR toner and desktop laser printers, any person with the best software application, an HP LaserJet printer and blank check stock can print a check.
As a company owner, you and your business are prone to check scams; however, there are ways to guard against it. Here are 6 steps that you and your service can follow to successfully resist check fraud.
1. Print Your Own Checks– Real Time – The primary advantage to printing yourself is security. Typically a service orders check stock from a company like Harland or Deluxe and they put the checks in a supply space or closet. These unused checks are a goldmine for any disreputable individual that encounters them – all they have to do is grab a check from the bottom of the pile, eliminate it. In all likelihood, you’ll never know that last check is missing up until a minimum of a month later on, and that’s if you are fortunate and you routinely reconcile your check book and analyze each deal. 구글상단노출 Since that’s exactly what occurred to us, we understand.
In 1993, we had an employee that unwisely took the last page in our check book. We never ever knew they were missing. Our Ex-Employee filled them out to herself and passed them as payroll checks at an utilized vehicle dealer. She did get that vehicle and numerous weeks later on my partner’s partner discovered the uncommon checks. Had she not noticed the problem who knows just how much more cash would have been stolen before we got smart to it. Long story short the bank had to consume the bad checks and they squandered no time ensuring the case was prosecuted to the complete degree of the law. We were fortunate and it only cost us time. Had the staff member been authorized to sign checks we would have lost the money.
By printing your own checks you just stock blank check stock and a MICR toner cartridge. There is nothing to steal with your account info, they have absolutely nothing but a piece of blank check paper. Obviously you are still open to a brand-new kind of scams if someone is able to access your check printing software application. Be sure it’s password safeguarded and your network rights are setup so that regular users can’t access the directory that it resides in.
Another fantastic advantage of printing your own checks actual time is that if you move our change bank accounts, you lose nothing. Just modify your address or account numbering in your check printing software and you’ve made the switch– No lost checks, no lost cash, no waiting on brand-new checks.
Purchase Secure Check Stock– When selecting a blank check stock, make sure the check stock is filled with security features– this will make it difficult for a scammer to copy or scan the check. Numerous of these exact same security functions are now available for check stock.
Photo Copier Void Pantograph– This causes the word VOID to appear in the background of a check when copied. A Void Pantograph is created by engraining a precision pattern of lines and dots in the background of the check. The printing of the pantograph is so precise that the VOID is not noticeable to the human eye, however when copied or scanned they appear making the copied check ineffective.
Micro Printed Border– This very same innovation is used on new United States currency – magnify the border line around the portrait on the face of one of the newly designed United States bills and you will see the border that seems a line is really comprised of words. Even modern-day high resolution printers can not reproduce type this little.
Chemically Reactive Check Paper– A common way to deface a check is to use chemicals to get rid of the existing writing to change the quantity or to whom a check is written to. Chemically reactive check paper will change colors when it can be found in contact with solvents or chemicals making the check unusable.
When held up to the light, Watermark– Check paper with a real watermark will show up. A watermark will not show up on a copied or scanned check.
Listing of security functions– A great check stock will note the security features on the back of the check. What great is a security function if no one knows what security features to try to find?
3. Positive Pay File Transmittal– A great method to stop check fraud is to produce a positive pay file and send it to your bank. Every time you print a batch of checks, you transfer a favorable pay file noting the checks and their amounts to your bank. Due to the fact that it does not match the positive pay file, if a check amount is altered or a check is duplicated the bank will reject it. Positive pay is fairly common in big business, but a little business may not have the resources or the software application to produce the file and transmit it. Contact your bank about this service.
4. Inspect Storage/ Access– One secret to preventing check scams is eliminating, or at least, decreasing access to files with your savings account number on them.
Mail Theft– Mail theft is an extremely common method checks
Because the innovation of the check, people have actually been constantly creating new methods to pass deceptive checks. With the advent of MICR toner and desktop laser printers, anybody with the ideal 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 functions– this will make it hard for a scammer to copy or scan the check. Every time you print a batch of checks, you transfer a favorable pay file listing the checks and their amounts to your bank. If a check amount is transformed or a check is duplicated the bank will reject it because it does not match the positive pay file.