- Check frauds generate an estimated yearly losses of up to $50 billion.
- About 1.4 million bad checks are written each day which accounts for about $27.3 million worth of fraudulent checks written each day.
- About 500 million checks are written out of stolen or forged checks each year which produces over $10 billion revenue loss.
- It is estimated that merchants take in over $13 billion in bad checks each year and such a number increases about 18% on an annual basis.
Sharing What I Know About Frauds and Fraud Prevention! I'm an experienced CPA, CFE, CGMA serving Los Angeles and Southern California.
Saturday, August 27, 2016
Facts About Check Frauds
The following statistics on check frauds in America are provided by the American Collectors Association:
Subscribe to:
Posts (Atom)