As the years go by and technology continues to advance it seems many people feel that cheque security features and cheques in general would have just died out and gone the way of the dodo bird. Luckily for our company that’s not the case, and many of our customers continue to order bank cheques for their businesses as our cheques continue to contain high end security features.
But as printing technology increases the need for businesses to protect themselves from cheque fraud also increases. Thieves have a much easier time in this day and age then they would have had even 5 years ago.
With the constant advancement of low-cost printers being able to print higher and higher resolutions with better print at home quality then ever before, businesses need to find way to stay ahead of shady characters who try as best they can to make and use fraudulent cheques.
Some of the tactics of these thieves include making high end reproductions of stolen cheques that they might have swiped from the mail, or in even worse situations theft from seemingly honest internal employees.
It doesnt take much to use a high quality scanner and decent home printer to print an image that looks like a cheque.
But there are certainly some cheque security features that simply cannot be duplicated by color copies, which helps reduce and prevent cheque fraud duplication from ever happening. And in the event that your businesses becomes a target of cheque fraud you want to ensure that you have done your due diligence to ensure your company is using high security cheques so that you can place the blame onto your bank who shouldn’t have allowed a fraudulent cheque to clear through its system.
Two of the best security features available to reduce cheque duplication are the Hologram Gold Foil and Heat Sensitive Inks.
A hologram foils reflective surface makes it impossible to duplicate using any printer. And a heat sensitive ink is a specially formulated ink that when its temperature reaches a certain degree the ink color actually fades, and only returns when the temperature drops again below its activation point.
The hologram foil itself comes specially manufactured in the US and is sold only to approved manufacturers, and they require expensive machines that both heat up and then stamp the foil onto the cheque stock. This features much like the Heat Sensitive Ink function not only as a visual deterrent to fraudsters, but also double impossible to dupicate features using any sort of color copier.
Heat Sensitive inks are also only sold to approved manufacturers and have a secure delivery chain.
Keep your company bank account safe by ensuring you use the security features that can best protect your cheques.
Additional security features that we provide and are good deterrents include real watermarks embedded into the cheque stock, some low cost providers sell cheques on regular bond paper and then apply a “printed watermark” that can easily be reproduced.
Visible Fibers used to be a commonly used security feature but was replaced with invisible fluorescent fibers. As scanners and printers have advanced visible fibers have become redundant and non-effective as a security feature.
Micro-Printing is also a commonly used feature where the printing done is so fine that when scanned or copied the text becomes a solid line. But this feature is mostly only visible with a magnifying glass.
As you can see, not all cheque security features are created equal, and there is a lot more to printing and manufacturing cheques then just printing black ink onto paper.
Unlike the main cheque supplier who supplies most of the Major Canadian banks we have not reduced our security features to make increase our profit margins, we instead continue to offer our clients higher level of security features at no extra cost and will continue to do so.
To see a list of more of our cheque security features view the image below.
Cheque fraud is one of the fastest growing financial crimes today. Projections indicate that cheque fraud will grow by 25% each year costing North American businesses upwards of 20 billion dollars annually.
There are two types of cheque fraud in which your business may be vulnerable. The first is cheques issued to your business and the other is cheques issued by your business.
To avoid the latter and become another statistic, there are steps you can take to safeguard your company from this fraudulent activity. Here’s a rundown on you can protect your business from cheque fraud. (more…)
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