While many check manufacturers incorporate security features with their checks not all are compliant with CPA check standards and some may not actually help with check fraud. Here is a comparison of different check security features to help you cut through the confusion.
According to statistics, 64% of check fraud affects the scammed victims. Therefore, the importance of check fraud protection should not be underestimated by businesses. Using highly efficient security checks is crucial.
Why These Right Security check Fraud Features Should Matter To Businesses
First of all, the correct check fraud features should matter to businesses because they will radically reduce and eliminate the chances of their checks being forged. Standard checks are the most widespread checks to be forged. They normally incorporate only three to four security features. These common checks are usually the basic checks that can be purchased from software vendors.
Make sure to ask your check provider to ensure up to date security features are being utilized.
Outdated Security Features
1. Thermochromatic Ink and Gold foil Seals
Both of these features can be added by any print shop in the world and they have as much security as putting a sticker on your house window pretending you have a security alarm system.
The hologram or foil stamp is not mandatory to meet the old or new CPA check standards. Listed below are a number of reasons why we don’t want to use them.
- The hologram can be applied to check stock or any other paper. It can easily be added by any dishonest printer or fraud artist. No real security comes from this. Unlike the hologram on your 10, 20, 50 & 100 dollar bills, these “seals” can be purchased and added by anyone.
- The new CPA standards are very clear that nothing unnecessary is to appear on the checks and when checks with the hologram are scanned, a black box appears. Not only does this not give you any security, but there is no way for anyone to tell that the box was a hologram and not just a black printed box.
- These holograms have been known to flake off in some laser printers and in fact some manufacturers of laser printers may not honor a warranty if these holograms have come off inside the printer.
2. Ultraviolet Light-Sensitive Fibers
When these checks are held beneath an ultraviolet black light, the UV light-sensitive fibers radiate a vivid yellowish-greenish hue. While somewhat useful, they are not allowed any longer with the new CPA standards, because they are picked up as images when the checks are scanned making the information harder to read.
3. Copy-Void Pantograph
If counterfeiters try to scan or color copy a check with this feature, the word “void” shows-up to immediately destroy the attempted photocopy, but under new CPA standards, this is no longer allowed.
Up To Date Security Features
1. Authentic Watermark
When checks are held up to any light, a watermark is pressed into the paper, right at the mill, and is noticeable from each side. This double-tone watermark is literally impossible to duplicate, and offers immediate legitimacy of the document.
The reason these work so well, is that if someone was to try and cut out a piece of a check and replace it with “new information”, it is almost impossible to match the watermark lines.
2. Laid Lines
A form of watermark, these normally appear on the back of a check. The anti-splicing lines are of numerous width discouraging cut-and-paste alterations usually tried by today’s counterfeiters.
3. Chemical Sensitive Paper
When changes are attempted via ink eradication solvents, checks react by changing the colour of the check, making it very noticeably altered.
4. Toner Fuse
These types of checks have a special coating that permits laser toner to stick to the paper more effectively. When counterfeiters try to pick up the type with tape, the colour of the check background is lifted along with the details, thereby making the check useless.
5. Clear Warning Sign
Usually located on the back of the check, a visible warning banner is audaciously noticeable to warn bank tellers of the current security features.
6. Chemical Wash Exposure Field
This exposure field on the back of the check easily discloses the use of ink abolition solvents, usually white in color. It will exhibit the apparent color alteration on the check as a consequence of attempted “check washing.”
Noticeable only through a magnifying glass, this 1 point font cannot be duplicated with a copier. The printed text is so delicate; it appears as a normal line on the face of the check.
Remember, investing in check stock with the latest security features is vital in today’s technological world. The new wave of theft is carried out via technology, a phenomena that has completely changed the way we function in the world. This is why counterfeit experts feel that checks should have special security features to keep-up with the advanced scamming techniques of today.
For a list of security features used by checkPrint – click here.