Cheque Printers and Fraud Prevention
According to APACS, the UK Association for Payment Clearing Services, fraud on cheques use has been increasing by 25% in 2008.
However, thanks to the sophisticated and constantly improving technology used by cheque printers, 88% of these fraud attempts were spotted and stopped in the clearing process.
These figures show how relevant it still is for companies to protect their cheques with the help of a knowledgeable cheque printer.
APACS Accreditation is compulsory in the UK and guarantees that the cheques produced are safe to be cleared in the UK. Every cheque printer in the UK is part of the APACS Cheque Printer Accreditation Scheme (CPAS).
As much as forgery tools are becoming more and more sophisticated, security features to protect against fraud are also advancing greatly.
Technologies are used by cheque printers to avoid the three main types of fraud:
* Counterfeiting
* Fraudulently altered cheques
* Forgery
Whether a fraudster tries to copy or create a new cheque, change the information printed on the cheque or alter the details, he will find himself stopped by various overt and covert features.
UV Sensitive ink provides a means of authentication that is very hard to forge. The ink is invisible in normal light but, when put under a UV light, any amount of information can be revealed. Such security devices make documents easy and convenient to authenticate.
Copy protection is also used by cheque printers to further deter the duplication and unauthorised reproduction of sensitive documents. When these documents are photocopied, words that are hidden within the document become readily apparent and provide an obvious warning that the document is a copy and not an authorised printing.
Holograms are one of the most recent and most effective forms of fraud protection. Cheque printers should be capable of making use of holograms. These devices are nearly impossible to forge, are easily visible under normal lighting conditions and are easily destroyed if a forger should attempt to lift the device from the page. Holograms are 3-dimensional pictures of distinctive devices, such as company logos or other information.
Another exciting innovation in fraud protection is the embedded image. These devices are visible when viewed at a certain angle. They are easily verifiable by anyone, including customers, and are exceptionally difficult to fake.
Cheque printers are one of the first lines of defence against the efforts of criminal and their activities.
For more information on RW Pierce Security Print Solutions Business Cheques click on image below
