You may not use checks in your personal life as much as you once did, but they’re still an essential part of your business’s daily transactions. Unfortunately, criminals know this fact, making checks a target for fraud. While occurrences of check fraud are much lower than credit cards, the average damage is much higher. In fact, research from The Federal Reserve shows small businesses lose more than $1200 on an unauthorized check transaction, vs. $138 on average for general purpose credit cards.
Armed with that knowledge, what can you do to protect your small business and your checks?