Financial Fraud Action UK reported that cheque fraud losses fell 34% to £10.5m in the first half of 2014, from £15.8m in January to June 2013. The continued success of improved fraudulent cheque detection methods and enhanced prevention controls is the driver for this long term decline.
The industry is tackling fraud through enforcement, information sharing, technological advances and awareness campaigns, and banks are using a range of increasingly sophisticated fraud screening detection tools too.
All great stuff.
So, with authentication of products and documents being as important as ever, how do your cheques shape up? It is taken as read that your cheques are produced to C&CCC standards, but can you do more to enhance security?
We think you can.
Adding security holograms to your cheques sends a very clear and bold warning to discourage cheque fraud. No well produced hologram can be accurately replicated so as to escape the scrutiny of a trained and expert eye.
Today, holograms are used extensively on high security applications such as banknotes, passports, ID cards, financial cards as well as on tickets, vouchers, certificates and (of course) cheques.
Another valuable outcome is that the addition of holograms enhances your cheques and your brand at the same time. You are shouting to your clients and customers that you operate with best practice (risk and compliance) in mind.
It goes without saying that Bank Security Printing, from it’s secure and accredited site, is an approved hologram supplier so our hologram application processes and designs meet or exceed UK requirements.
So next time you place an order for your cheques, do consider holograms as a valuable addition. We would be delighted to quote, letting you know the difference in price, and we think you’ll be pleasantly surprised.
Why not request a cheque sample so you can see for yourself? Just let us know.