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Check Fraud Costs $10 Billion per year

Check Fraud cost American businesses nearly $10B annually. The FBI reports that about 500 million checks are counterfeited each year, an increase of 350 percent since the 1970. Even more astounding is that 55 percent of all criminal referrals to the FBI are for check fraud and counterfeiting and those are only the reported cases. Many fraud cases are not reported at all.

 

 

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