One of the reasons why checks are becoming less popular is because of fraud and theft. People have lost a lot of money because of fraud. Other reasons why checks may be used less is often is due to better methods of payments including use of debit and credit cards as well as the ability to shop online. However, paper checks are still important for making certain payments. You can order for your business or personal checks at a discount if you make use of checks unlimited offer code.
There are various types of frauds involved with checks. Forgery is one of the common types of check fraud. This is when one presents check that is not authorized. One can present it at the bank using a different personal identification and some of these cases have succeeded leading to loss of money.
Another type of fraud is counterfeiting and alteration. In counterfeiting, a check can be fully fabricated or simply photocopied. Alteration involves changing the details on the check. This may involve use of bleaching agents to remove or alter the information.
In addition, there is paperhanging that involves writing a check on a closed account. Similarly, check kiting has also been witnessed as a check fraud where one ahs accounts with more than one institutions and makes use of the float time to fraudulently create different balances.