Check Fraud Protection

Check fraud is a crime of opportunity, and it's serious business. Statistics report that check fraud alone has resulted in annual losses of $15 billion. It's become a challenge for businesses nationwide, and has also impacted local businesses. As your business partner, we want to help you reduce the risk of this happening to your accounts.

Types of check fraud include: counterfeit checks created and presented for cash; handwritten and facsimile signatures copied; checking account numbers stolen...and the list goes on. But there are steps you can take to protect your account from check fraud.

Positive Pay

• Allows you to control which checks clear your business accounts
• Matches daily presented checks with company's current issued checks
• Monitors checks not matching, by check number or dollar amount, which will be marked as exception items for your review
• Provides daily reports and images for review
• Allows your company to inform 1st Source whether items should be paid or returned
• Teller line protection to further protect your business account when checks are presented at 1st Source branches
• Service available at an affordable price
  
  

Reverse Positive Pay

• Information is available through the Internet or by fax
• 1st Source provides a file of checks presented for payment on a daily basis
• Allows company to inform the bank whether items should be paid or returned
• Front and back images of all checks available.
• Service available at an affordable price

With 1st Source Bank's Positive Pay and Reverse Positive Pay, you can be assured that you are taking positive steps towards safeguarding your company against fraudulent activity.

Operational Review
Here's a checklist of suggestions you can use to review your internal operations.

Other Resources

Preventing Fraud: Fraud is one of the fastest growing crimes in the nation. Learn what you can do to protect yourself.

For additional information relevant to Check Fraud, visit the web sites listed below:

National Check Fraud Center - A comprehensive site on check fraud protection

Abagnale & Associates - A secure document consulting company

To learn more about protecting your account, contact Cash Management Services at (574) 235-2615, toll free at (800) 399-5592, or securely online.