Reorder Checks Safely - Beware of Bank Check Fraud
Author: Fred Rivera |
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.
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.
Dishonest weights and measures, where the trademark of con artists when silver, gold or purchasing products from merchant's way before paper money made its appearance. With the advent of paper money and financial institutions, bank check fraud became the number one money transaction crime.
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.
For instance, consider home thefts and in store thefts. Studies support that most thefts are done by individuals working for and friends of the company. 80% of thefts are in house and equally divided between employees and delivery persons, so-called friends of the company. All research studies support these general conclusions.
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.
Safeguards for bank check security are employed by all financial institutions and all adhere to American National Standards Institute's (ANSI) standards. One of the security features is the small micro sized print on a bank check that does not allow it to be photocopied.
Studies show that 90% of people will steal from you if they feel they can go undetected and if they have a perceived need and can rationalize their behavior.
Altered bank checks are genuine checks with an added twist. The intended recipient can be altered or the account number details altered so a con artist can reap the benefit. Alteration will be either of the payee or the amount the check was written for.
Check to see if you have a healthy paranoia concerning your security. Healthy paranoia can be described as accurate thinking. Dealing with reality in a positive way without ignoring reality as others may do by focusing solely on positive thinking is essential for your balanced footing. Routinely check over your bank checks financial statements as a preventative.
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.
Dishonest weights and measures, where the trademark of con artists when silver, gold or purchasing products from merchant's way before paper money made its appearance. With the advent of paper money and financial institutions, bank check fraud became the number one money transaction crime.
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.
For instance, consider home thefts and in store thefts. Studies support that most thefts are done by individuals working for and friends of the company. 80% of thefts are in house and equally divided between employees and delivery persons, so-called friends of the company. All research studies support these general conclusions.
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.
Safeguards for bank check security are employed by all financial institutions and all adhere to American National Standards Institute's (ANSI) standards. One of the security features is the small micro sized print on a bank check that does not allow it to be photocopied.
Studies show that 90% of people will steal from you if they feel they can go undetected and if they have a perceived need and can rationalize their behavior.
Altered bank checks are genuine checks with an added twist. The intended recipient can be altered or the account number details altered so a con artist can reap the benefit. Alteration will be either of the payee or the amount the check was written for.
Check to see if you have a healthy paranoia concerning your security. Healthy paranoia can be described as accurate thinking. Dealing with reality in a positive way without ignoring reality as others may do by focusing solely on positive thinking is essential for your balanced footing. Routinely check over your bank checks financial statements as a preventative.
Information:
Stop over to our secure business and personal check discount store when you run low on checks. Youll find a gigantic display of personal and business check motifs online in almost all imaginable heading you can think of. Stop over to: Reorder Checks
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