Throughout the world, merchants of all types lose billions of dollars per year to payment fraud. Now that eCommerce has risen to prominence, it’s credit card fraud that tends to get the most attention, but it’s not even close to being the biggest source of the fraud. That dubious distinction belongs to check fraud, with one survey reporting that a whopping 74% of businesses fell victim to such attacks in 2017.
It’s a problem that affects every part of the commerce ecosystem, from the businesses that have to defend against check fraud, to the consumers who may be victimized by it. The good news is that there is already a way that individuals can protect themselves from being used as the unwitting victim in a check fraud scheme: using high security checks. They’re designed with security features that standard checks lack, and can prevent many of the most common methods that fraudsters might use to gain access to a victim’s funds. To elaborate, here are five reasons to use high security checks.
1. They Include Anti-Copy Features
One of the reasons that check fraud has become so common in recent years is the fact that high-resolution scanning and printing technology has become inexpensive and accessible to all. That means it’s easier than ever for a scammer to make a near-perfect duplicate of a legitimate check that they can then pass off as the real thing. High security checks use various embedded features to thwart attempts to copy them. In many cases, trying to do so will result in a blank or all-black image, no matter what kind of copy method is used.
2. Hologram Technology is Hard to Duplicate
Another reason to use high security checks is the fact that they include embedded holograms that are almost impossible to duplicate. It’s yet another hurdle that any fraudster would have to clear to take advantage of a high security check user. The technique used by most security check manufacturers is very similar to the methods used on the most recent editions of the UD $100 bill, and if it’s good enough for the US Treasury Department, it should do an excellent job of protecting individuals, too.
3. The Use Heat-Sensitive Ink
Even with the anti-copy features and hologram technology used in high security checks making it all but impossible for criminals to duplicate them, they don’t stop there. High security checks also make use of thermochromic ink, which is sensitive to heat and provides a simple method of authenticating their validity. Anyone needing to do so can simply press their finger onto the region of the check marked as using the thermochromic ink and their body heat will cause that spot to change colors in a very visible way. Conventional printers can’t use such ink, making this yet another hard-to-simulate anti-fraud technology.
4. They Resist Washing
Although it might not have ever occurred to most people to try and wash the pen ink out of a used check, it is, in fact, a common method that criminals use to commit check fraud. Ordinary checks are printed using ink that’s colorfast on the paper, so it’s possible to wash off any handwriting if you know the right mixture of chemicals to use. High security checks make this impossible by using ink that reacts to washing attempts, leaving visible discoloration and smudging that renders the check unusable.
5. Microprinting Is an Invisible Guardian
Last but not least, it’s a good idea to use security checks because they contain another security feature that hides in plain sight: microprinting. It’s a printing method that includes images or letters within the document that are so small that they’re almost invisible to the naked eye. High security checks will include microprinting in places like the outside borders of the check or near the signature line, providing yet another way to authenticate them. If you know where to look you can use a magnifying glass to spot the tiny lettering, and if it is there, the check is almost certainly the real thing.
Don’t be a Victim of Check Fraud
Put simply, high security checks prevent check fraud, period. Anyone that’s ever been a victim of check fraud will attest to the fact that it can be a costly, frustrating experience, and one that can take months to rectify. With such a readily available means of stopping many common forms of check fraud, it just makes sense to take advantage of it. The bottom line here is that high security checks should be the rule, not the exception – and users of standard checks face unnecessary risk that’s well within their ability to control.
