With The Wall Street Journal reporting on the rise in check fraud, TROY responds with proven security solutions including tamper resistant TROY MICR Toner Secure™
WHEELING, W.Va., Dec. 12, 2024 /PRNewswire-PRWeb/ -- A recent article in the Wall Street Journal spotlighted an alarming surge in check fraud, revealing a nearly 400% increase in such crimes last year as criminals exploit vulnerabilities in the U.S. banking system. The article outlined the strong usage of checks by consumers, businesses, and government agencies alike in the U.S. despite this surge, with a quote from Point Predictive's Chief Fraud Strategist Frank McKenna stating, "You'll never get rid of checks."
TROY Group, a trusted leader in secure document solutions, offers a pro- ven defense against these growing threats with MICR Toner Secure™, the only Magnetic Ink Character Recognition (MICR) toner on the market that bleeds red when tampered with. This innovative technology, combined with TROY's suite of secure solutions, provides an essential safeguard for financial institutions and businesses relying on paper checks.
The rise of check fraud, fueled by tactics like check washing and systemic vulnerabilities in the U.S. banking system, represents a significant threat to financial institutions and businesses. Criminals are increasingly targeting paper checks, altering them with household chemicals to withdraw funds before banks can identify foul play.
Tips on bank vulnerabilities and fraud are now spreading through social media apps like Telegram, Facebook, & TikTok. Recently, Chase Bank was targeted through their ATM kiosks, with criminals depositing large checks and withdrawing the money before the check cleared, a scam that became popular on social media as the "infinite money glitch."
A Critical Line of Defense Against Check Fraud
At the core of the solution to this problem lies TROY MICR Toner Secure™, the only Magnetic Ink Character Recognition (MICR) toner on the market that bleeds red when tampered with, making it instantly evident that a check has been compromised.
Unlike other security measures, the tamper-evident technology of MICR Toner Secure™ offers a physical, immediate response to unauthorized alterations. This feature not only deters fraud but also enables businesses and financial institutions to quickly identify tampered documents.
2025 marks 20 years since the release of MICR Toner Secure™, making it one of the most trusted and long-running check fraud security tools existing globally.
Comprehensive Solutions Beyond Check Security
While check fraud garners significant attention, the broader risks attached to document security in industries such as healthcare and finance also demand robust solutions. TROY Group addresses these challenges through innovations like SecureDocs Sentry and SecureRx:
SecureDocs Sentry empowers businesses to secure sensitive documents with customizable security features that prevent duplication, unauthorized alterations, or distribution. It's an essential tool for companies aiming to protect confidential financial data, tax records, business contracts, and more.
SecureRx focuses on the healthcare sector, delivering advanced security features to prevent prescription fraud. By protecting medical documents from tampering and ensuring compliance with regulatory requirements, SecureRx safeguards both providers and patients.
Together, these solutions strengthen TROY Group's role as a leader in the fight against fraud across multiple industries and organizations.
A Legacy of Trust and Innovation
"For nearly 20 years, MICR Toner Secure™ has served as a dependable solution in protecting businesses against check fraud. That legacy is built on trust, innovation, and a deep understanding of our customers' security needs," Michael Riley, President of TROY Group added. "From securing paper checks to safeguarding sensitive documents, TROY remains a committed partner in fraud prevention."
With check fraud exploiting gaps in the U.S. banking system and endangering consumers, businesses, and institutions alike, solutions that provide immediate detection and tamper-resistant safeguards are critical. TROY Group's innovative technologies—including its flagship MICR Toner Secure™—stand as a resolute defense in an evolving threat landscape.
For more information on how TROY's secure printing and document protection solutions can support your business, visit http://www.troygroup.com.
About TROY Group, Inc.
TROY Group, Inc. is a leading provider of secure on-demand printing solutions for businesses worldwide. With a commitment to innovation and excellence, TROY delivers cutting-edge printing technologies that enable organizations to enhance financial security, streamline operations, and achieve their printing objectives with confidence.
Media Contact
Nathan Cross, TROY Group, (304) 907-1938, [email protected], https://www.troygroup.com/
SOURCE TROY Group
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