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Fraudsters favorite method of choice: Checks

Here is a fascinating quote from another Blog I found today listed below. Click on the link below to read entire article.

"Checks are by far the payment method of choice for fraudsters.  A full 90% of organizations experiencing at least one fraud attempt in 2009 reported fraud by check, and a full 64 percent of fraud losses were linked to checks. In fact, the single best action organizations can take to reduce fraud is to reduce or eliminate their use of checks," according to AFP.John B. Frank.

Source: PIN Debit News Blog: B2B Payments Fraud Still Raging in US, AFP Survey Shows, Apr 2010

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