Check Fraud

Check fraud is a $400 billion problem in the US, affecting large and small companies alike. Source Technologies has worked for more than 20 years to advance MICR (Magnetic Ink Character Recognition) technology, which uses magnetic toner to print the special characters at the bottom of a check.

Source Technologies has worked with thousands of companies including nine of the top ten US banks, and hundreds of Fortune 1000 companies to eliminate check fraud with check printing software and secure MICR laser printers. In addition, these solutions dramatically cut check fraud prevention and issuance costs.

Secure MICR Check Printers
Source Technologies' secure MICR laser printers streamline check issuance processes and include many features that drastically reduce the risk of official check fraud. In addition to utilizing blank check stock, which eliminates the need to securely store an inventory of pre-printed check stock, Source Technologies' MICR printers give our customers cutting-edge security features and the greatest possible protection from check fraud.

Features that help to reduce the risk of check fraud include:

• Secure Numeric Font - Our unique ST-designed font is very difficult to alter because of a special background and very small text & numeric print embedded in the amount line of the check.
• Microprint Font - Extremely small type font is used to embed micro text and numbers within lines of print on the MICR document.
• Password Protection - Prevents access to check-printing resources stored in the printer (signatures, MICR fonts, form overlays) without the proper password.
• MICR Toner Detection - Detects whether MICR toner or regular toner is installed in the printer to prevent printing negotiable documents with regular toner.
• DES Decryption - One of the highest levels of security available – All of Source Technologies' MICR printers are DES-enabled, allowing them to decrypt an encrypted print stream prior to printing (requires ST secure payment software).
• Bi-Directional Communication - Alerts the user to any MICR problems through their payment software application. Also allows the user to query the printer regarding MICR settings. (Bi-directional communication is also supported in ST secure payment software applications).
• Set-Copy Control - Ensures that a print job only prints once while in MICR mode– prevents check fraud by disallowing the printing of multiple copies of a check.
• Auto Jam Recovery Disable - Automatically turns Jam recovery OFF when checks are being printed – prevents multiple copies of a check from being printed.

The Payback

Source Technologies has saved our customers hundreds of millions of dollars in labor, fixed operating costs, and check fraud losses through the deployment of our MICR laser check printers.

• Eliminate pre-printed check stock and the expenses associated with shipping, storage, and security
• Eliminate maintenance on outdated equipment such as dot matrix printers, typewriters, and check-protectors
• Reduce voids, missing checks, paid-unadvised charges, and official check fraud
• Reduce non-value added activity in the front-office, back-office, accounting, and auditing functions

SAVE UP TO $1.70 PER ITEM ISSUED BY YOUR ORGANIZATION

> Learn More about how our secure payment disbursement software can help your organization prevent check fraud.