Cheque and document fraud is rapidly becoming a multi-million dollar industry. Individuals and organized groups have access to a variety of means to recreate and duplicate documents. Colour copiers, scanners, desktop publishing programs and laser printers can all be used to manipulate information or create a new document. Part of the problem is penalties for this crime are very light, a criminal will face a heavier penalty for threatened violence than he would for fraud.Financial institutions and merchants bear the majority of financial loss. Banks are placing more responsibility on companies to take reasonable precautions and ultimately the consumer pays through higher fees and prices.
PERSONNEL CHEQUE FRAUD TIPS
Criminals can defraud you and your bank with a blank cheque taken from
your cheque book, the garbage or even a cheque you have mailed. Here are
some common-sense and logical steps you can take to protect yourself:
It is ultimately your responsibility to ensure that your cheques and
bank account is not tampered with. The processing bank handles so much
paper they will never notice the efforts taken to protect an account.
Some precautions that a business can undertake to reduce their vulnerability
You can also secure your financial documents by having them printed on security paper that cannot be duplicated or altered. Factor Forms offers 2 kinds of security paper
#1 "DocuCheckTM" BASIC which is the standard for all our cheques. It contains fluorescent fibres (visible only under a black light) or #2 "DocuCheckTM" SUPER SECURITY which has the added features of a chainlink watermark and random visible fibres. We offer microline printing in the borders of our QE pantograph on either security paper choice.
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