Stop Check Fraud

unnamedIt is more important than you think to ask yourself ‘does our company’s blank check stock have the adequate security features needed to prevent check fraud?’ Without strong security features on your business checks, you are signaling to forgery criminals that you are vulnerable to becoming a victim of check fraud. Unfortunately, criminals will not remain on the sidelines while the security in your business checks remains outdated.

 Weaknesses in your blank check stock’s security can be costly to both your organization’s productivity and your bottom-line. As multiple departments work on various plans and processes to prevent and detect check fraud, appropriate attention is diverted away from identifying new business opportunities and increasing sales.

Eliminating holes in your check stock security also eliminates unnecessary downtime in your accounts payable systems. Preventing a full-blown check fraud crisis in your business starts by utilizing two primary check stock security features.

  1. Artificial Watermarks

check frontThe ability of your blank check stock to identify attempted check fraud is much more important than you may have expected. One of the most innovative anti-counterfeiting tools is artificial watermarks. This advance security feature is used to frustrate check forgery criminals who find it almost impossible to perfectly duplicate the hidden water mark images on business checks.

In the art world, where counterfeiting is continual one of its biggest challenge, watermarks are among its favorite security features to spot a fake artwork. Similar to banks and corporations, artist often place hidden watermarks on their pieces once it is completed to protect their work from art forgery crimes. These artworks are normally only visible when held a certain angle and appear as either the artist’s signature a studio logo that tells a buyer that this piece is indeed authentic.

 In the U.S. and Canada, watermarks are found on new passports to offer foreign travelers the greatest possible security. As the government searched for innovative ways to increase the effectiveness of passport security, the process of inserting hidden watermarks onto the backs of passports was found to be the best possible approach.

 The million dollar question for business when is selecting check stock is: How to implement the maximum of security in accounts payable for check fraud prevention? The long-term solution for those in government, private business and the art world has consistently been artificial watermarks.

Chemical Reactive Paper

check-washingTo achieve maximum security in business checks, chemical reactive paper is a smart choice. Chemical Reactive Paper eliminates the check fraud called check washing (Washing away the ink). Chemical reactive paper prevents check washing by leaving a visible stain anytime a criminal applies acetate (fingernail polish) or other chemicals to your check. The crime of “washing” or erasing the details off of business checks in order to replace them with fraudulent account information has accelerated in popularity. The marriage of science and anti-forgery innovation found in chemical reactive paper is your smartest investment in blank check paper to prevent “washing.”

It is estimated that check washing cost the United States over $800 million each year. Furthermore, check washing is perhaps the quickest way for check fraud criminals to obtain your bank account information without hacking into your computers. This white collar crime leads to criminals having the immediate ability to make withdrawals and deposits as-well as account transfers before red flags are raised.

Monitoring your account activity daily and investing in chemical reactive paper are the two most widely endorsed ways to fight check washing. Check fraud is not slowing down and the need to build up your security remains.

Check washing is generally achieved after a criminal has gotten one of your business checks by doing something as simple as walking by and stealing it from your desk or your mail or any number of clever ways to take your account information. Once these sophisticated check fraud rings have your check to “wash” away your information and it with new a “pay to X or order” field and often a much higher amount.

However, if you have chemical reactive paper when check washing is attempted your business color will suddenly discolor or leave a noticeable stain. Without chemical reactive paper red flags could be missed and your business bank account could be drained.

Docugard Style GuideFINALAt Ganson Engineering, our secure check stock comes with the same security features used by the U.S. government on passport books. Our team will help you select the best blank check stock for your company to give you piece of mind and prevent check fraud.

  • Comes with Chemical Reactive Paper and/or  artificial watermarks
  • We provide a variety of different colors to choose from.
  • We have very competitive pricing that routinely beat our competitors prices.
  • All of our checks meet or exceed the National Banking Administration security requirements.

Think Ganson today to stop check fraud from happening to your business.