Cheque Fraud
Cheques have been a tempting target for criminals to steal money or goods from the drawer, payee or the banks. A number of measures have been introduced to combat fraud over the years. These range from things like writing a cheque so it is difficult to alter after it is drawn, to mechanisms like crossing a cheque so that it can only be paid into another bank's account providing some traceability. However, the inherent security weaknesses of cheques as a payment method, such as having only the signature as the main authentication method and not knowing if funds will be received until the clearing cycle to complete, have made them vulnerable to a number of different types of fraud;
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Famous quotes containing the words cheque and/or fraud:
“Any general statement is like a cheque drawn on a bank. Its value depends on what is there to meet it.”
—Ezra Pound (18851972)
“He saw, he wishd, and to the prize aspird.
Resolvd to win, he meditates the way,
By force to ravish, or by fraud betray;
For when success a lovers toil attends,
Few ask, if fraud or force attaind his ends.”
—Alexander Pope (16881744)