Corporate Check Security – Preventing Fraud While Achieving Process Improvement
TMCNet, Financial Tech Spotlight
Check fraud at the corporate level has reached epidemic proportions with losses ranging between $10 and $14 billion per year in the U.S. alone, according to recent findings from Nielsen Report and Ernst & Young. But check fraud continues unabated because most companies either don’t think it can happen to them, or are under the misconception that they have all the safeguards they need in place. In short, check fraud flourishes because there is an abundant supply of companies who make getting away with it easy.