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 THE THREAT OF CHEQUE FRAUD

Although their use for personal and commercial payments has diminished, the number of cheques written in the UK in 2001 still exceeded 2.5 billion. Cheques remain an essential part of the financial system and one of the safest ways to transfer funds. However the incidence of cheque fraud is on the rise.

Consider the following:

• According to the Association for Payment Clearing Services, the rate of cheque fraud growth in recent years approaches 60%.
• The British Retail Consortium report that losses from cheque fraud increased by 49% from 1999 to 2000.Of equal concern is a growing incidence of counterfeiting and alteration of other high-value documents including letter and statement cheques, money orders, warrants, drafts, and gift vouchers as well as banking and financial forms.Cheque fraud dangers
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GROWING LIABILITIES
There is a further trend within legal systems and regulatory agencies - in the UK and elsewhere - to require cheque providers to meet defined criteria for protecting against fraud.

FRAUD - EASIER THAN EVER
With readily available printing, copying and scanning technology, high-quality cheque counterfeits are relatively easy to produce. In addition, counterfeiters have an arsenal of chemical and physical methods for altering legitimate cheques.
These factors combine to create an environment in which cheque issuers must take unprecedented steps to protect themselves, their products and their customers.
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THE APACS STANDARD
CBS1 was established to help ensure the integrity of cheques in the UK and has extended to many countries internationally. CBS1 sets a high standard for security; however, criminals are diligently working to defeat cheques meeting these standards. In order to stay ahead of the problem, many cheque issuers are implementing security features beyond the high level set by APACS CBS1.
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INTRODUCING A MORE EFFECTIVE DEFENCE
Security experts agree that the best counter-measures against fraud require an ongoing strategy of security enhancements. That's why Datagraphic have introduced a cheque paper that offers additional security features beyond those defined in the basic APACS requirements..... DOCUCHECK
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