[INFOGRAPHIC] The 8 Components to Help Prevent Business Check Fraud

There is little to no awareness in the business community when it comes to check fraud. It appears that as digital technology grows, companies are more concerned with cybersecurity… and printed payment security has fallen to the wayside.

Almost all business executives (95%) make payments using checks. 70% of those same business execs said they were concerned with the cybersecurity risks of online banking portals, and less than 10% cite management of check fraud as valuable.¹

The financial loss of check fraud can cost an organization between 0.5% and 1.5% of total revenue, plus the harm in brand reputation and the loss of employee and customer trust compounds the overall damage. There is no sign of check fraud declining ₂ and since checks are still the number one method for B2B payments, it’s time for organizations to rethink their check printing process.

Help us raise awareness by sharing this infographic. Check printing is not dead- and neither is check fraud. A modern, secure, tamper-resistant solution is the only way to fight the fraudsters. These are the components you need to safeguard your brand from the damage of check fraud.

¹JP Morgan Chase. Executive Opinions on Digital Banking and the Changing Payments Landscape. 11 July 2018.
^₂ 2018 AFP Payments Fraud and Control Survey Report. Key Highlights. J.P. Morgan.