Magazine article American Banker

Standard Register Offering New Antiforgery Products

Magazine article American Banker

Standard Register Offering New Antiforgery Products

Article excerpt

Standard Register Offering New Antiforgery Products

Standard Register Co. has introduced two products aimed at reducing banks' vulnerability to check fraud, now estimated to total $4.5 billion a year.

The products make it harder to alter the amounts and account numbers on most commonly forged documents, including personal checks, cashier's checks, and money orders, Standard Register said. The Dayton, Ohio-based company produces financial documents and printing equipment.

Technological Warfare

"Fraud has definitely increased over the past year," and more high-technology schemes are being seen, said one banker from a Chicago-are bank who asked not to be named.

One of the most common scams, in which a forger uses a legitimate deposit slip and a fraudulent check, occurs 2,000 times a day across the United States, according to the Federal Bureau of Investigation.

The bona fide deposit slip is used to deposit the forged check and simultaneously withdraw part of the phony deposit.

New Weapons

Standard Register calls its two newest offerings Security Number Fonts and Image Lock.

Security Number Fonts are characters for use on the face of laser-printed cashier's checks and money orders. The numerals have been distinctively designed and given dissimilar sizes to keep forgers from changing low figures into higher ones. Also, the number is spelled out inside each numeral, and amounts are printed on a textured black background that smudges when erased. …

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