Reorder Checks But Be Careful
This is some serious information that I have found regarding check fraud. You may want to review this carefully:
SAN ANTONIO —Increasingly sophisticated technologies such as imaging software and high-quality color printers are making it easier for criminals to illegally obtain, create, duplicate, alter and even wash others’ checks for their own use and benefit. In fact, check fraud is the No. 2 threat against banking industry deposit accounts, surpassed only by identity theft, according to the 2004 ABA Deposit Account Fraud Survey.
In 2003, the total amount of attempted check fraud against commercial banks’ deposit accounts was $5.5 billion, up from $4.3 billion in 2001, the survey found. While banks’ prevention systems or measures averted 88 percent of the $5.5 billion check fraud attempts, the numbers point to a continuing need for vigilance in the industry.
“Technology makes doing business easier, but it’s a double-edged sword, because it makes it easier for criminals to pursue their own activities,” says Don Dolan, senior vice president of Partnership Solutions and Personal Products for Clarke American. “It’s up to everyone in the industry to continue to push for safeguards against check fraud.”
SAN ANTONIO —Increasingly sophisticated technologies such as imaging software and high-quality color printers are making it easier for criminals to illegally obtain, create, duplicate, alter and even wash others’ checks for their own use and benefit. In fact, check fraud is the No. 2 threat against banking industry deposit accounts, surpassed only by identity theft, according to the 2004 ABA Deposit Account Fraud Survey.
In 2003, the total amount of attempted check fraud against commercial banks’ deposit accounts was $5.5 billion, up from $4.3 billion in 2001, the survey found. While banks’ prevention systems or measures averted 88 percent of the $5.5 billion check fraud attempts, the numbers point to a continuing need for vigilance in the industry.
“Technology makes doing business easier, but it’s a double-edged sword, because it makes it easier for criminals to pursue their own activities,” says Don Dolan, senior vice president of Partnership Solutions and Personal Products for Clarke American. “It’s up to everyone in the industry to continue to push for safeguards against check fraud.”
posted by Reorder Checks at 2:35 PM
