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Secure Printing in a Digital Age: Insights & Recommendations for Implementing a Secure Check Disbursement Strategy
Written By: James C. Maher, Daniel Charles & Francisco Aponte
Check fraud is a global problem. In the United States alone, check fraud losses are billions of dollars annually. According to the FBI’s Financial Institutions Fraud and Failure Report, over 60% of all criminal referrals for indictment and trial can be traced to check fraud. Statistics from the banking industry and the FBI show that thieves steal more than 10 times as much through check fraud as they do through bank robberies each year. The recent growth of check fraud can be mostly attributed, in part, to advances in technology.
The advent of MICR laser printers has offered both the potential of increased check fraud, and at the same time, has provided a new ability to control the process of producing checks in a more secure manner. This control, when properly implemented, can actually mitigate an organization's risk. This paper focuses on ways that organizations can realize the benefits of, as well as, understand the processes necessary for multilevel security strategies.
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