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Secure MICR Printer User’s Guide © Source Technologies
September 2005
14 All Rights Reserved
7. Use “Positive Pay” check services from your financial institution that match check
number and dollar amounts to known information. Financial institutions should
encourage full participation of corporate clients.
8. Move methods of fraud detection to the item’s point of entry into the clearing
system. For example, low cost readers can detect low magnetic strength in the
MICR line which is a good indication of attempts to copy an original.
9. Always verify the home address and place of employment of new account
applicants. Use public sources such as phone books to verify phone numbers.
Ask new account applicants why they are opening an account with your
institution. Be suspect of unusual answers or delays in responding.
10. Stay abreast of current check fraud methods and the latest in fraud detection.
Offer seminars to educate corporate clients.
11. Review and document your internal negotiable document printing procedures.
Investigate employee backgrounds before assigning security authority. Split
responsibilities, for example, an accounts payable production/security officer
should not also balance the account.