PENNY AUCTION Check verification and fraud

Before buying personal or business checks it is better to be informed about check fraud protection. Check frauds occur when a check is photocopied or altered in order to make some quick money. There are several ways in which to reduce the occurrence of fraud with regard to checks. Once these security measures are in place, the probability of fraud occurrence reduces to a great extent. There are a few basic security measures taken by check firms to protect people from thieves.

Check Security – A number of check firms now provide customers with special features so that fraud can be prevented. The most common measures taken to protect consumers from fraud are as follows –

-       Micro-printing – This is a print present on the check that is minute enough to avoid thieves from photocopying the data on the check.

-       Erasure protection – Erasure protection prevents people from erasing the information printed on the check. If this is attempted, a white spot can be seen which indicates the obvious.

-       Original document – All the checks are printed with the original document words that cannot be photocopied.

There are several other measures adopted by other companies such as QuickBooks and Quicken which include special detailing such as embossing and foil. This prevents thieves from taking a photocopy of the check.

By balancing the check book and reconciling monthly statements you can guard yourself from fraudsters. While buying cheap personal checks, it is necessary to ensure that the print on that the print on these checks is minute. This will prevent fraudsters from photocopying. If the checks are simple, it will be easier for thieves to photocopy them. Finally, if a check book is stolen, it is important to inform to same to the bank immediately. Several measures can be taken in order to protect a person’s identity. Further details about identity protection can be obtained from banks.

Check verification – Retail business owners too are taking measures to protect themselves from fraudsters. The best method for keeping check frauds at bay is by check verification. There are a number of check verification firms that use devices to see if a check clears or not. If the check verification machines recognise your check as a bad one when there is sufficient balance in the account, there is a possibility that checks are being passed in your name. The check verification firm can be called upon to enquire about the wrong and correct information.

It is important to remember that not all bad checks or checks that bounce are written intentionally. However, if a person does so intentionally then they will be spotted without doubt by these check verification machines. Keeping these points in mind, people can easily protect themselves from check fraud.

Finally, with check verification processes and check security in place, it is difficult that you will face problems while accepting checks. Hence, by using the services of check verification firms, one can prevent monetary loss due to the occurrence of fraud and also keep fraudsters away.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.