MICR Toner Secure: Prevent Check Fraud with 1 Step

Fraud is making a comeback. When it comes to electronic payments using fintech platforms such as Zelle or CashApp, the United States is seeing surge, and the follow through with reimbursement is declining. The percentage of Zelle consumers who were reimbursed for fraudulent transactions fell to 38% in 2023 across JPMorgan, Bank of America and Wells Fargo, according to a U.S. Senate committee report. This is a large fall from 62% in 2019.

While digital threats are becoming more common, so are threats to physical document security,  particularly when it comes to financial transactions. One significant threat that has resurfaced with a vengeance is check fraud, specifically through check-washing schemes - surprising culprit aiding these schemes is the toner companies use when printing checks. 

The Surge in Check Fraud

Despite the rise of digital banking, checks remain a common method of payment, particularly in business transactions. 61% of American consumers are still using checks, and Mastercard estimates that checks account for more than half of the $25 trillion B2B payments market. This ongoing use has led to a corresponding rise in check fraud, specifically through a method known as check washing.

Check washing is an old-school fraud technique that involves chemically erasing the ink on a check and rewriting it to a different payee and amount. This method leaves little evidence of tampering and can lead to significant financial losses for individuals and businesses. In fact, the Better Business Bureau reported that check washing schemes account for $815 million in losses a year. 

A lot of consumers and businesses don’t realize that check washing and check fraud doesn't just start with criminals, it also starts with the toner being used to print the check. 

What is MICR Toner?

MICR stands for Magnetic Ink Character Recognition. It is a technology used primarily by the banking industry to streamline the processing and clearance of checks and other documents. MICR toner contains magnetic particles, typically iron oxide, which allows machines to read the printed information even if it has been obscured by marks or other processing steps. This technology is crucial for ensuring the efficiency and security of document handling in the financial sector, but why?

If checks are not printed with MICR toner or ink, the check will be impossible for bank machines to read and deposit into the proper accounts. You can read more about the mishaps and mistakes that happen with MICR printing here. 

The use of MICR toner is also regulated by the American Banking Association and the American National Standards Institute. So, not only will your checks be rejected by the bank if MICR isn’t used, your company will also incur fees up to $6 a check. 

The Issue with Cheap MICR Toner

The effectiveness of MICR technology heavily depends on the quality of the toner used. Unfortunately, many businesses opt for cheaper MICR toner alternatives to cut costs. However, these cost-saving measures often backfire. 

Just because it’s MICR, doesn’t mean its secure.

The common misconception with MICR is using it means your checks are automatically secure. They may be secure from rejections and processing errors but from check-washing attempts? Absolutely not. 

Cheap MICR toner lacks the security features necessary to prevent check washing. MICR toners can be easily removed with common household chemicals, making checks printed with them prime targets for fraudsters. Simply put: if MICR was secure, check washing wouldn’t exist. But it does, and it is growing rapidly. 

MICR Toner Secure: 1 step to securing your checks 

You might think that preventing check fraud requires a list of vigilant measures like never sending checks through the mail, or eliminating checks from your company’s financial system, which is easier said than done. 

• The only step you need to prevent check fraud is to start using MICR Toner Secure. 

Amidst the growing threat of check fraud, TROY MICR Toner Secure stands out as the only MICR toner in the world that actively prevents checks from being tampered with. This advanced toner incorporates unique security features that make it virtually impossible for fraudsters to alter checks successfully.

One of the most notable features of TROY MICR toner secure is its active security that bleeds red whenever check washing is attempted. This bleeding effect makes any tampering immediately apparent, making the check useless to fraudsters while also letting them know that they’ve been caught red-handed.

Not only does MICR Toner Secure contain this active security, it is also a high adhesion toner that makes other tampering techniques like toner scraping impossible. The high adhesion also makes it ABA compliant, so your business can rest assured that no check printed with MICR Toner Secure will be rejected.  

Our MICR Toner Secure is researched, developed, and manufactured in the United States with HP OEM cartridges, giving you a quality product that won’t break or ruin your printer or your checks like remanufactured toner is known to do.

Demand TROY MICR Toner Secure

By demanding TROY, you’re not only protecting your business from fraud, but you’re choosing an organization with over 60 years of expertise in the MICR and document security industry. While cheap MICR toner may seem like a cost-effective solution, it can lead to significant security vulnerabilities.

TROY MICR toner secure offers a robust and reliable alternative, ensuring that your business is protected from financial and reputational damage associated with check fraud. Choosing TROY high-quality MICR toner is not just a matter of efficiency; it's a crucial step in safeguarding your financial transactions from the growing threat of check fraud. Protect your business and protect your checks by demanding the best. Demand TROY. 

Shop MICR Toner Secure on our store here. For more information on MICR Toner Secure or help with check printing, fill out our form below.