Simple steps to protecting your business from cheque fraud

There are a range of measures you can put in place at both bank and business level to tackle cheque fraud and protect your company against one of the biggest challenges faced by the nation’s financial system.

Fraudsters are finding it easier and easier to manipulate cheques through the use of technology. They know how to make a counterfeit cheque look completely legitimate so that even a bank teller or cheque imaging software can’t spot it. Through alteration, counterfeiting and forgery, there are scores of ways your business can be targeted and become the victim of cheque fraud.

The good news is that there are ways your company can protect itself against cheque fraud. Follow the steps below to help safeguard your business and its assets.

Start off by reconciling your daily banking transactions

The first step is to reconcile all of your daily transactions. Make sure to do a monthly review of all items on your statement and flag anything that doesn’t reconcile with your records.

Centralise your cheque issuing

Even if you trust all of your employees, it’s never wise to leave unissued cheques lying around. Make sure all unissued cheques are kept locked away and maintain control of your cheque stock by doing regular audits.

Separate cheque writers and signees

Different people in your business should be responsible for different stages of the cheque writing process. Separate the functions as well as completing a full audit of your security procedures to check you are safeguarded against fraud.

Outsource cheque printing to a professional

One of the safest ways to ensure your business is protected against cheque fraud is by working with a professional cheque supplier. At Hague, we can provide an end-to-end cheque printing service that improves and simplifies your use of the cheque as well as employing sophisticated technologies that combat cheque fraud.

Find out how we can help to protect your company by providing you with a secure cheque printing service. Enquire now and a member of our team with cheque security expertise will contact you to arrange a free consultation.