Protect Yourself From Check Fraud
5 easy steps
It's 10 o'clock. Do you know where your checks are-orare forgers making a fortune off you? Today's technology hasmade it easier than ever for crooks to commit check fraud. Morethan 1 million bad checks enter the banking system every day. Butyou 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 todetect any risk areas.
- Everyone hates to do it, but you must reconcile your bankstatements as soon as possible.
- Add several security features to your checks. Your checksshould indicate that they're protected, and you should informyour bank of the security measures you've taken. If the bankpays a check that doesn't include your security features,you're not responsible for the loss.
