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Understanding "Due Diligence"
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You may have already heard that the
single biggest reason for a customer to
incorporate security features into their check
stock revolves around the concept of Due
Diligence. What you probably haven’t heard is a
good explanation of exactly what Due Diligence
means. Look no further.
The concept of Due Diligence centers around one
thing: Financial Responsibility. That is, a
company who does not practice Due Diligence by
incorporating ample security features into their
check stock will very likely be deemed
responsible for any losses that occur as a
result of fraud.
The only way to successfully divert financial
responsibility for fraud away from one’s own
company and onto the bank is to practice Due
Diligence. When fraud occurs, the bank will
immediately look to see whether the issue was
their fault, or whether a lack of security
features is to blame. If the check in question
is in compliance with the
American National Standards Institute (ANSI)
Standard for Due Diligence, the bank will
generally accept full responsibility.
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So the question
is, what does the
ANSI Standard say about security
features?
To be in compliance, a check must have a minimum
of three (3) security features, and at least one
security feature must cover each of four (4)
areas of concern:
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u
One must
be OVERT – a feature that is easily seen by
the naked, untrained eye
u
One must
be COVERT – a feature that is hidden in the
paper or printing
u
One must
be ANTI-COPY – a feature designed to hinder
duplication
u
One must
be ANTI-ALTERATION – a feature that deters
data modification
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Feature types can
overlap – for example, microprinting is a COVERT
feature, and also an ANTI-COPY feature, while
diagonal anti-splice lines are both OVERT and
ANTI-ALTERATION.
Relyco stock
laser checks, with
10
to 16 built-in security features
depending on which line you choose, are
manufactured to far exceed any and all standards
or requirements for Due Diligence. Our pressure
seal is similarly designed, with 6 to 10
features to protect your customers from fraud
and insure that they are in full compliance with
ANSI Standards. The
Deterachek™, is our most secure laser
check line and the
UltraSeal™
100, is our most secure stock pressure seal
product.
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Corporate Headquarters
100 Main Street, Ste 222 - Dover, NH 03820
Tel: (800) 777-7359 - (603) 742-0999 - Fax: (603) 742-9993 |
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