Fraud Statistics
Are you protected?
In 2018, 70% of organizations that experienced attempted or actual payments fraud were victims of check fraud. Take proactive steps to protect your business so thieves look for easier targets.
Did you know?
- Checks are the most-often targeted and account for the largest loss due to fraud.
- The use of security paper (stains appear if alteration attempts are made) is effective in preventing check fraud.
- Using more secure check stock can prevent the most common kinds of check fraud, such as altering the amount or payee name.
- It is critical that businesses implement protective measures. If fraudsters are successful in their attacks, they will persist in targeting the same business repeatedly until they are caught.
- Positive pay, daily reconciliations and segregation of accounts are the most popular methods used by organizations to guard against check fraud.
An internal check security audit will reveal potential issues and is FREE through your Safeguard consultant.
Statistics above are from the 2019 Association for Financial Professionals Payments Fraud and Control Survey.
Check images are subject to change as we continue to enhance our manufacturing and security technologies.
