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Check fraud has more than doubled in recent years, and it costs at least a dollar for businesses to process each check they receive. Plenty of young adults have never even written one. But if you haven’t used a check in years and consider it a badge of honor, that may say a lot about where you live and what you pay for. In many industries, checks continue to be a popular form of payment, and sometimes they are required.
“Checks are really a fundamental cultural signifier of relationship-based commerce,” said Scott Anchin, the vice president of senior operational risk and payments policy for the Independent Community Bankers of America, which wants to reduce the number of check payments. “It’s almost like a handshake.”
https://www.nytimes.com/2024/07/24/business/paper-check-payment-fraud-scam.html
