Recent Federal Trade Commission activity is undeniable evidence for increased concern of the public in connection with unauthorized check creation and fraud conducted by organized scammers and con artists.
Software, paper, ink, toner and printer hardware, widely available at retail stores and online, are reportedly being used as tools to print checks without account holder authorization or knowledge and thereby cause losses.
Prolog Corporation unveiled gValidate, a free service that protects its members from financial harm by providing a free centralized resource to validate financial accounts, verify payments by check and notify account holders pre-emptively of check activity associated with their accounts.
If implemented broadly throughout commerce, the gValidate Network can eliminate the vast majority of losses associated with unauthorized or underfunded check payments in the US and wherever else checks are in use.
DNA Secure checks are verifiable online and can communicate verification events back to the account holder in real time via email or SMS text messages from the moment they are created until they are deposited. Members thereby achieve full control and transparency of impending check payments.
Unauthorized checks can be discovered and stopped immediately, with a high risk for the “con artist” to be identified well before any harm can occur to the gValidate member’s account. The members protect their accounts through gValidate account validation, which ensures authenticated control over any bank accounts members wish to validate.