Founded in 1991, ChequeGuard Inc is the leading innovator in cheque fraud solutions for smaller and medium-size businesses and financial institutions. ChequeGuard's FormSuite for the IBM AS/400 series, and ChequeSeal™ and ChequeSuite™ for Windows allow businesses to integrate and rapidly deploy secure, controlled cheque printing and electronic payment solutions (In the USA: Automated Clearing House (ACH)), while concurrently creating a Positive Pay file for the bank as the cheques are printed by the customer.
Prevent Check Fraud!
Check fraud and its related losses continue to grow and threaten our nation's banks, large and small. As criminals keep up with the latest technology, it's harder for financial institutions to combat this unlawful activity.
CHECK 21 Act, these losses have a potential of fast growing since survivability of check security features in the image environment poses challenges for large and small banks alike. The effectiveness of existing paper based security features in the image environment is highly questionable as they may be easily deceived.
The success of POSITIVE PAY system depends on: Customers ability to format data and sending the data file on time. Daily review of exception items and the customer verifying the authenticity of the check(s) in question.
FRAUD DETECTION REPORTING TOOL requires a team to review and data analysis guessing work and also requires the bank to contact the customer to verify the item in question!!! Thieves easily can fool the system by simple information gathering, the check number and amount can be estimated, so that the fraudulent check can easily pass any Fraud Detection Reporting tools.