Stop potential check fraud - The Most Common Check Fraud Scam in its tracks!
Use Quickbooks Checks to make sure that you are doing everything possible to prevent your company from becoming a victim of check fraud. Not only are they easy to use, but also Quickbooks Checks have built in security features that make it simple for you to protect your business. Quickbooks Checks are made out of a paper that makes it virtually impossible for criminals to use ink removal chemicals.
A Quickbooks check is available with security features built right into their very paper fibers that prevent fraud via photocopying, such as a high resolution border; visible paper fibers; microprinting on the back; ultra-violet fluorescent fibers; watermark; and a security weave to the fiber.
Why is this so important to your business? Below we will share some startling statistics, as reported by the Association of Certified Fraud Examiners:
• Check fraud costs American business owners over $2.9 trillion each year.
• Check fraud normally goes unnoticed for over 18 months, on average.
• A business who was a victim of check fraud loses an average of 5% of its yearly revenue as a result the fraud.
To add insult to injury, guess who is responsible for preventing check fraud? The bank? Nope. The forger? Nope. YOU ARE! UCC Codes have set guidelines making corporations responsible for at least part of the losses resulting from check fraud. This means that your company many never recover part or all of the money lost to check fraud, if the investigation determines that your company did not exercise enough care to prevent the fraud. In other words, you are responsible for protecting yourself.
One of the check forgery scams that Quickbooks Checks can help prevent is check washing, which is one of the most common check forgery scams. This serious scam costs American businesses over $815 million every year.
Here is a common check washing scenario: A criminal steals a check from the mail. He goes to his local MegaMart and purchases every day items to aid him in the check washing process. He may choose to use carpet cleaner, bleach, or lighter fluid; however, he will most likely choose to use acetone which is cheap and very effective. He will use a plain old eraser in combination with one of these solvents to completely eradicate the ink (except the authorized signature). He will then make out the check to another payee, in whatever dollar amount he wishes. Using a fake identification, he can take this check to the bank and cash it.
Quickbook Checks are available with the security features to prevent fraud by check washing. Considering the simplicity of the check washing scam outlined above, isn’t is worth the investment in Quickbooks Checks?