Ever since the change from the barter age to the modern age when money was enacted as the medium for exchange, con artists appeared trying to make a dishonest living by cheating people.
The axiom, prevention is better than cure, is a good tactic to employ. Vigilance helps.
With the advent of paper money and financial institutions, bank check fraud became the number one money transaction crime. One needs to be aware of a few situations.
Consider that when a bank check written to someone, they deposit it in a bank. The bank then sends it to a clearinghouse whereas the clearing house determines if there are sufficient funds to cover the transaction. With this knowledge, the bank is assured that funds are available and deposits the money in that persons account.
To better understand how this happens, let's trace what happens with personal or business checks at banks. When you issue a business bank check to someone, that person eventually brings it to a bank and deposits it in his or her account. The bank then sends the check to a clearinghouse. This clearinghouse verifies that there are sufficient funds in your personal or business checking account and verifies this information to the bank. With this information, the bank deposits that exact amount into the account of the person the check was issued to.
You can't control another's perceived need or their rationalizations but can control their perception of going undetected. The reality check is that you can only affect the feeling that they are being watched, the cookies are being counted and that they cannot go undetected. They need mechanisms in place that makes them think that the cookies are counted before and after they leave.
Another variation appears when a bank check is stolen in transit. A stolen check issued by you can be stolen out of a mailbox or intercepted and endorsed and cashed by someone other than the person the check was intended for. He/she again cashes it and disappears with the loot.
American National Standards Institute's (ANSI) has created specific criteria for bank check printing which is the adhered to same standards followed by all accepted financial institutions. The MP icon, indicating that micro-security print is used in the design of the check. One of these security features used is that the very small print if photocopied will visually break up and can be identified and detected. Erasures and alterations smudge and are detectable as well.
Another ploy is to alter the bank check by changing the details. The criminal takes a good check and uses chemicals such as acetone or brake fluid or other means to erase the payee information and/or the amount.
Check altering is commonly done by changing the payee name or the amount of the bank check. Using acetone, bleach or other chemicals, the con artist take a good check and changes the information to his benefit.
The best means of preventing check fraud is to pay attention to your check reorders. Banks can only do so much. Look over suspicious bank checks and be on guard.
Ordering online will save money and insure faster delivery. Save about 50% as opposed to ordering from the bank.
The axiom, prevention is better than cure, is a good tactic to employ. Vigilance helps.
With the advent of paper money and financial institutions, bank check fraud became the number one money transaction crime. One needs to be aware of a few situations.
Consider that when a bank check written to someone, they deposit it in a bank. The bank then sends it to a clearinghouse whereas the clearing house determines if there are sufficient funds to cover the transaction. With this knowledge, the bank is assured that funds are available and deposits the money in that persons account.
To better understand how this happens, let's trace what happens with personal or business checks at banks. When you issue a business bank check to someone, that person eventually brings it to a bank and deposits it in his or her account. The bank then sends the check to a clearinghouse. This clearinghouse verifies that there are sufficient funds in your personal or business checking account and verifies this information to the bank. With this information, the bank deposits that exact amount into the account of the person the check was issued to.
You can't control another's perceived need or their rationalizations but can control their perception of going undetected. The reality check is that you can only affect the feeling that they are being watched, the cookies are being counted and that they cannot go undetected. They need mechanisms in place that makes them think that the cookies are counted before and after they leave.
Another variation appears when a bank check is stolen in transit. A stolen check issued by you can be stolen out of a mailbox or intercepted and endorsed and cashed by someone other than the person the check was intended for. He/she again cashes it and disappears with the loot.
American National Standards Institute's (ANSI) has created specific criteria for bank check printing which is the adhered to same standards followed by all accepted financial institutions. The MP icon, indicating that micro-security print is used in the design of the check. One of these security features used is that the very small print if photocopied will visually break up and can be identified and detected. Erasures and alterations smudge and are detectable as well.
Another ploy is to alter the bank check by changing the details. The criminal takes a good check and uses chemicals such as acetone or brake fluid or other means to erase the payee information and/or the amount.
Check altering is commonly done by changing the payee name or the amount of the bank check. Using acetone, bleach or other chemicals, the con artist take a good check and changes the information to his benefit.
The best means of preventing check fraud is to pay attention to your check reorders. Banks can only do so much. Look over suspicious bank checks and be on guard.
Ordering online will save money and insure faster delivery. Save about 50% as opposed to ordering from the bank.
About the Author:
Visit our safe personal and business bank check specialty warehouse when you run low on checks. Youll find the largest collection of personal bank check designs on the internet in almost all imaginable category you may choose. Visit: Reorder Checks
The best means of preventing check fraud is to pay attention to your check reorders. Banks can only do so much. Look over suspicious bank checks and be on guard.
ReplyDeletereorder checks
Great Blog!Bank Fraud Protection uses the strongest, most advanced Internet banking are always on guard to anticipate, address and help prevent security threats.Reorder Checks
ReplyDelete