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Cover Story continued

“Suspicious Activity Reports are a valuable tool utilized
Get the right by Postal Inspectors for not only targeting criminal
networks and their illegally derived assets, but they also
folks talking aid in the identification of victims," Barksdale added.

about your In its analysis of BSA reports, FinCEN identified three
primary ways checks were used after being stolen from

business with a the U.S. mail:
1. 44 percent were altered and then deposited
Green Sheet 2. 6 percent were used as templates to create
counterfeit checks
Company profile! 3. 20 percent were fraudulently signed and deposited

To make bogus checks look legitimate, fraudsters
often use check washing and other check "cooking"
techniques to alter paper items or create counterfeits.
COMPANY (Check washing involves using chemicals to physically
PROFILE alter the check, typically altering the original payee and
financial amount.)
Company Name In other instances, checks are simply deposited
go
o
L Logo Contact with forged endorsements. Or, as Powers explained,
Position
Phone Number fraudsters use AI to simply create checks using stolen
transit and routing numbers.
Email Address
Website Flashback: What Green Sheet reported in 2002
Company’s story: In a survey conducted by The Green Sheet in 2002, 71

Lorem ipsum dolor sit amet, consectetur adipiscing percent of consumers said they expected their check
elit, sed do eiusmod tempor incididunt ut labore et writing to increase or stay the same. Checks also
dolore magna aliqua.
remained the dominant payment method for businesses.
Ut enim ad minim veniam, quis nostrud exercitation Of the 9 billion business-to-business payments made
ullamco laboris nisi ut aliquip ex ea commodo conse-
quat. Duis aute irure dolor in reprehenderit. in 2001, 83 percent were made by check, according to
industry research at the time.

"[W]e often have the sense in the U.S. that it will take
only a few banks to reshape the future of the check.
We’ll help you showcase This could not be further from the truth," Green Sheet
Your products and services founder Paul H. Green wrote in that 2002 report. "Only
11 percent of checks are written on the 10 largest bank
Your mission holding companies in the U.S. In turn, these banks clear
Your skills and expetise only 16 percent of the checks of others.
We’ll tell the world "In fact, 69 percent of all checks written are drawn on
Why your company matters banks other than the top 100 bank holding companies in
Take steps now to the U.S., and institutions other than the top 100 are the
Enhance your visibility collecting banks for 54 percent of all banks cleared….
Boost your credibility It would appear there is no definitive or final word on
Gain industry recognition how much, where, when and by whom when it comes
Unlock networking opportunities to paper payment. But the key ingredient in all of this is
the consumer's love of paper. Consumers hold tighter to
Stir investor interest their checks than a lion to a fresh kill.
Don’t delay! "While convenience is a factor, it's all about comfort.
Contact Rick Aston today at Consumers are comfortable writing checks and asking
707-284-1693 or rick@greensheet.com them to give up that comfort for alternatives is akin to
asking a teenager to give up a favorite pair of jeans."

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