Printech Raises the Question of Importance of Check Fraud Prevention with New Check Printing Software

Miami, FL, May 03, 2012 --(PR.com)-- Printech Global Secure Payment Solutions is concerned about the fraud activities associated with check and ACH payments. Fraud prevention has become a main priority for many businesses around the globe and concerns both new and well established organizations. According to BankInfoSecurity's recent Faces of Fraud Survey, check fraud is the second most common scheme institutions face, placing just behind payment card fraud and ahead of phishing.

Printech Global Secure Payment Solutions announces the CheckPlus software package that can help business owners and consumers to avoid check fraud. The Solution combines two elements: the paper that checks are printed on, and the printing process. If checks are not printed correctly, they can easily be altered and made into something that they are not.

The CheckPlus system utilizes a special type of reactive chemicals that have a watermark built into each check that is being printed. Legitimate checks will have a watermark somewhere on their outer surfaces. A certain type of ink should be used to print checks. Thermochromatic ink contains a special toner lock that will make it impossible for characters or numbers to be altered once the checks have been printed out. Thermochromic ink is temperature sensitive and can change color with exposure to heat. Special MICR toner is a required component when printing checks. It is composed of at least 50% iron oxide and requires using a laser printer specifically modified to handle MICR check printing.

The CheckPlus system is capable of producing checks that have a live watermark that will repeat the payee data along the front surface of the check. There are additional micro text characters that are also visible on all printed checks that can easily be detected with a magnifying glass.

Some of the fraud prevention actions include setting the maximum dollar amount accounts; producing detailed reports for large dollar items; positive pay system. These systems generate reports identifying potentially fraudulent items. Whenever checks are disbursed, you electronically send the bank file containing information on each check - check numbers, dollar amounts, payee etc. After checks are processed, the positive pay system generates a report listing exception items that do not match your checks issued information. After reviewing the report, you may instruct the bank to return any potentially fraudulent items.

It is important to have centralized check-writing function and limit and control the number of official signers. It is necessary to perform reconciliation promptly with large dollar items reconciled on a daily basis.

CheckPlus takes all the necessary precautions to ensure that business checks cannot be forged in any way. Combined with secure check stock and secure laser printer and MICR toner, Printech Global provides a turn-key solution that is highly secure and reliable. As a business owner, it is important to employ a check payment system that will help you ensure that no fraudulent activities are carried out with your printed checks.