While many cheque manufacturers incorporate security features with their cheques not all are compliant with CPA cheque standards and some may not actually help with cheque fraud. Here is a comparison of different cheque security features to help you cut through the confusion.
According to statistics, 64% of cheque fraud affects the scammed victims. Therefore, the importance of cheque fraud protection should not be underestimated by businesses. Using highly efficient security cheques is crucial.
Why These Right Security Cheque Fraud Features Should Matter To Businesses
First of all, the correct cheque fraud features should matter to businesses because they will radically reduce and eliminate the chances of their cheques being forged. Standard cheques are the most widespread cheques to be forged. They normally incorporate only three to four security features. These common cheques are usually the basic cheques that can be purchased from software vendors.
Make sure to ask your cheque provider to ensure up to date security features are being utilized.
Outdated Security Features
1. Thermochromatic Ink and Gold foil Seals
Both of these features can be added by any print shop in the world and they have as much security as putting a sticker on your house window pretending you have a security alarm system.
The hologram or foil stamp is not mandatory to meet the old or new CPA cheque standards. Listed below are a number of reasons why we don’t want to use them.
- The hologram can be applied to cheque stock or any other paper. It can easily be added by any dishonest printer or fraud artist. No real security comes from this. Unlike the hologram on your 10, 20, 50 & 100 dollar bills, these “seals” can be purchased and added by anyone.
- The new CPA standards are very clear that nothing unnecessary is to appear on the cheques and when cheques with the hologram are scanned, a black box appears. Not only does this not give you any security, but there is no way for anyone to tell that the box was a hologram and not just a black printed box.
- These holograms have been known to flake off in some laser printers and in fact some manufacturers of laser printers may not honor a warranty if these holograms have come off inside the printer.
2. Ultraviolet Light-Sensitive Fibers
When these cheques are held beneath an ultraviolet black light, the UV light-sensitive fibers radiate a vivid yellowish-greenish hue. While somewhat useful, they are not allowed any longer with the new CPA standards, because they are picked up as images when the cheques are scanned making the information harder to read.
3. Copy-Void Pantograph
If counterfeiters try to scan or color copy a cheque with this feature, the word “void” shows-up to immediately destroy the attempted photocopy, but under new CPA standards, this is no longer allowed.
Up To Date Security Features
1. Authentic Watermark
When cheques are held up to any light, a watermark is pressed into the paper, right at the mill, and is noticeable from each side. This double-tone watermark is literally impossible to duplicate, and offers immediate legitimacy of the document.
The reason these work so well, is that if someone was to try and cut out a piece of a cheque and replace it with “new information”, it is almost impossible to match the watermark lines.
2. Laid Lines
A form of watermark, these normally appear on the back of a cheque. The anti-splicing lines are of numerous width discouraging cut-and-paste alterations usually tried by today’s counterfeiters.
3. Chemical Sensitive Paper
When changes are attempted via ink eradication solvents, cheques react by changing the colour of the cheque, making it very noticeably altered.
4. Toner Fuse
These types of cheques have a special coating that permits laser toner to stick to the paper more effectively. When counterfeiters try to pick up the type with tape, the colour of the cheque background is lifted along with the details, thereby making the cheque useless.
5. Clear Warning Sign
Usually located on the back of the cheque, a visible warning banner is audaciously noticeable to warn bank tellers of the current security features.
6. Chemical Wash Exposure Field
This exposure field on the back of the cheque easily discloses the use of ink abolition solvents, usually white in color. It will exhibit the apparent color alteration on the cheque as a consequence of attempted “cheque washing.”
7. Micro-Printing
Noticeable only through a magnifying glass, this 1 point font cannot be duplicated with a copier. The printed text is so delicate; it appears as a normal line on the face of the cheque.
Remember, investing in cheque stock with the latest security features is vital in today’s technological world. The new wave of theft is carried out via technology, a phenomena that has completely changed the way we function in the world. This is why counterfeit experts feel that cheques should have special security features to keep-up with the advanced scamming techniques of today.
For a list of security features used by ChequePrint – click here.
