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Article: Minnesota banks put finger on solution to check fraud; Minnesota banks plan to fight the growing problem of check fraud by requiring people who are not regular customers to leave a thumbprint on any check they want cashed.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- January 3, 1997
- Author:
CopyrightCOPYRIGHT 1997 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Taking fingerprints is routine in law enforcement. It soon may become commonplace in many Minnesota banks.
The Minnesota Bankers Association (MBA) will launch its Minnesota Thumbprint Signature program next month to stem check fraud.
Banks would require people who are not regular customers to leave a thumbprint on any check they want cashed. If the check turns out to be fraudulent, the thumbprint will be turned over to law enforcement officials.
Last year roughly 1 million cases of check fraud cheated 57 percent of all U.S. banks out of cash, and now bankers are doing something about it.
"Banks will use a small inkless touchpad to ...