Check fraud is perhaps one of the biggest problems for consumers and businesses alike. The estimated total amount that check fraud costs is into the billions of dollars a year. Many consumers and businesses lack certain safeguards for check fraud prevention but these tips may help to combat this problem in the future.
In order to secure your checks from being stolen make sure that they are locked up in a safe place with limited access. When access is limited to your checks this reduces the possibilities of check fraud either personally or professionally. Once your checks are exposed to criminals, even one they can use it over and over again by copying it using modern technology at their disposal.
If you are a business or even a consumer, never use rubber stamps to endorse your checks. This gives criminals easier access to authorize the document with your exact signature. It also prevents you from proving that your document was stolen and your rubber stamp used fraudulently.
If you must mail a check do so from a secure location. The post office internal mail system is the best method to use. Take your mail into the post office to be mailed rather than use a street side mailbox. Criminals often watch mail carriers and other people mailing from a particular location and they can retrieve checks from the mailbox easier than if it was mailed inside the post office.
Each month you should reconcile your account to prevent possible problems with stolen checks. Reconciling will be your first alert to any unauthorized activity on your account. Checks should always be used in numerical sequence so fraud can be detected more easily. You should never use checks out of their numerical sequence.
If you are a retailer and cash checks for the public, always keep an eye out for stolen or suspicious checks being passed. Some things to look for are discrepancies in the information contained in the financial document such as mismatching numbers, and discoloration of the paper. The MICR numbers should also match the institution and check numbers at the top. Also MICR numbers at the bottom of the instrument are usually dull in color because they are magnetic, fraudulent checks numbers are often shiny and it is hard for criminals to match MICR numbers gloss exactly.
If you order your checks from a reputable source, ensure that you have certain security features in place to prevent fraud and counterfeiting. One such security feature is the watermark which is not easily duplicated and can help to prevent crimes against your account. Other security features include perforation marks and special paper that prevents checks from being washed and reused.
These methods presented here can help to eliminate some of the fraud but is not all inclusive. There are many other methods to safeguard your financial documents and you can do research online to find organizations that list other things you can do. The primary concern is securing your checks and checkbook from criminals and making sure that your money is safe from being stolen.
In order to secure your checks from being stolen make sure that they are locked up in a safe place with limited access. When access is limited to your checks this reduces the possibilities of check fraud either personally or professionally. Once your checks are exposed to criminals, even one they can use it over and over again by copying it using modern technology at their disposal.
If you are a business or even a consumer, never use rubber stamps to endorse your checks. This gives criminals easier access to authorize the document with your exact signature. It also prevents you from proving that your document was stolen and your rubber stamp used fraudulently.
If you must mail a check do so from a secure location. The post office internal mail system is the best method to use. Take your mail into the post office to be mailed rather than use a street side mailbox. Criminals often watch mail carriers and other people mailing from a particular location and they can retrieve checks from the mailbox easier than if it was mailed inside the post office.
Each month you should reconcile your account to prevent possible problems with stolen checks. Reconciling will be your first alert to any unauthorized activity on your account. Checks should always be used in numerical sequence so fraud can be detected more easily. You should never use checks out of their numerical sequence.
If you are a retailer and cash checks for the public, always keep an eye out for stolen or suspicious checks being passed. Some things to look for are discrepancies in the information contained in the financial document such as mismatching numbers, and discoloration of the paper. The MICR numbers should also match the institution and check numbers at the top. Also MICR numbers at the bottom of the instrument are usually dull in color because they are magnetic, fraudulent checks numbers are often shiny and it is hard for criminals to match MICR numbers gloss exactly.
If you order your checks from a reputable source, ensure that you have certain security features in place to prevent fraud and counterfeiting. One such security feature is the watermark which is not easily duplicated and can help to prevent crimes against your account. Other security features include perforation marks and special paper that prevents checks from being washed and reused.
These methods presented here can help to eliminate some of the fraud but is not all inclusive. There are many other methods to safeguard your financial documents and you can do research online to find organizations that list other things you can do. The primary concern is securing your checks and checkbook from criminals and making sure that your money is safe from being stolen.
About the Author:
Find an overview of the benefits of using a check fraud prevention tool and more info about a great tool at http://ebankdiscovery.com/check-fraud/software-features today.
0 التعليقات:
Post a Comment