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Protect Yourself From Check Fraud

5 easy steps
1 min read
Opinions expressed by Entrepreneur contributors are their own.

It's 10 o'clock. Do you know where your checks are-or are forgers making a fortune off you? Today's technology has made it easier than ever for crooks to commit check fraud. More than 1 million bad checks enter the banking system every day. But you can protect your business. Here's how:

  • Store your checks in a secure area.
  • Track check numbers so you'll notice missing checks.
  • Evaluate your check-issuing process, and conduct an audit to detect any risk areas.
  • Everyone hates to do it, but you must reconcile your bank statements as soon as possible.
  • Add several security features to your checks. Your checks should indicate that they're protected, and you should inform your bank of the security measures you've taken. If the bank pays a check that doesn't include your security features, you're not responsible for the loss.

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