What is Check Fraud and How Can You
Protect Yourself?
Uni-ballŪ 207™ is teaming up with Frank W. Abagnale, one of the most
respected experts on identity theft and the person whose life is chronicled in the blockbuster movie "Catch Me If You Can,"
to help individuals protect themselves from a common form of check fraud.
An epidemic of something called "check washing" has given rise to numerous
law enforcement task forces, including the FBI, Secret Service, U.S. Postal Service and local and federal authorities. According
to the National Check Fraud Center, some $815 million is lost each year in the United States to this type of fraud.
Check washing is a process where checks are stolen from the mail or by other
means and the ink is erased using common household products. The thieves will then rewrite the check payable to themselves,
in the amount of their choosing.
Many uni-ball gel pens use inks that contain color pigments, which are absorbed
in to a check’s paper fibers. When an individual tries to "wash" the information written on the check, the ink is in
effect trapped.
Abagnale says prevention is the most effective strategy in counteracting check
washing. He advocates using certain uni-ball gel pens to protect against this escalating check washing threat, singling out
the uni-ballŪ 207™ as his favorite in deterring the act.
The Facts
The Nilson Report estimates check fraud losses to be about $20 billion annually.
The Federal Trade Commission reported nearly 9.9 million Americans have been
victims of identity theft, costing consumers $5 billion and banks and businesses $48 billion each year.
The National Check Fraud Center estimates check washing, a specific type
of check fraud, costs Americans $815 million each year. On average, it costs a victim $1,173 and 175 man-hours to get their
credit report straightened out.
Copyright 2007 Sanford, L.P. A Newall Rubbermaid Company
