Three Ways to Prevent Check Fraud in your Business
There is nothing more important than making sure your business is secure. You could spend your entire life building it up only to have it topped by a case of fraud. Identity fraud and check fraud are two of the biggest problems that we tend to face in life and in business, and it is crucial to prevent both. In your business, preventing check fraud should be at the forefront of your mind and there are a few ways to get the job done. First and most importantly, it comes down to human intervention, but it certainly would not hurt to make sure that you have a bit of technology, like Wycom systems helping you as well.
Graphic Amount Lines – Prevent Tampering
The root of check fraud is quite often simple tampering. A malicious individual will take a check that has already been printed and simply change the amount, leading to a financial leak and funds unaccounted for. A graphic amount line, however, will make it so that the amount is readable, but it cannot be reasonable changed to a different amount. This technique is especially helpful if the check is going to be sent to a third party. While this will technically not stop a check from being processed, it is expected that a bank teller would recognize the inconsistency and alert the proper authorities.
Audit Trails to Keep Track
Apart from the graphic signature line, the best way to keep track of potential track fraud is keeping records. Good record keeping will ensure that you know precisely who has logged on, and when, which will certainly come in handy if an event were to occur. With this information you will be able to make sure that you are questioning the right employees, and that the situation is taken care of as quickly as possible.
Remember: with higher end, more efficient systems you will get far more detailed audits that will lead you onto the right path. This is one area where you want to spend the extra money for greater detail.
Use Secure Logons
Finally, make sure that you are using secure logins with your check signers. To put it as simply as possible, your check signers are able to ‘print money’. Employees with access to your check signers will essentially have free reign to print whatever amounts they like and take the check to the bank which could cause some serious problems for you. By using secure logins, you will know who logged in, who printed a check, why they did it, and what amounts they should have been printing. If there has been any deviation from the established protocol you can investigate it and determine whether or not it is justified. This is the best way to make sure that your company plugs all of its financial leaks and even eliminates unscrupulous individuals.
Securing your Operation
Ensuring that your operation is secure can be a difficult task, but our products can help to give you what you are looking for: peace of mind. If you take a look at our store, you will find that we not only have great pieces of equipment but also some of the best in the industry so that you can rest assured that you are keeping your finances secure and that you are keeping your employees in check. You know as well as we do that keeping your financials in order is one of the most important parts of any business. Keep the financials in line and watch your business grow.
Check out our store right now for some of the greatest business and document security devices the market has to offer. From check signing solutions, all the way to paper shredding; we have exactly what you are looking for.