Should we say “goodbye” to checks?



Haro on the check! The latest report from the Observatory for the Security of Payment Means sounded the alarm: check fraud exploded by 20% last year, even though its use fell further by around 10%. It is now the most defrauded means of payment of all, although it now represents only 6% of cashless transactions, behind bank cards, transfers and direct debits. Amount of damage? 540 million euros in 2019. At the top of the scams: the embezzlement of lost or stolen checks, with false signatures, or the interception of valid checks by fraudsters, who modify their orders. Then come the fake checks, created from scratch, and more elaborate scams, aimed at trapping gullible Internet users.

Despite these risks for users, the check remains a popular means of payment for the French, where our neighbors have largely abandoned it. In 2017, 72% of European checks were thus signed by our fellow citizens, while they only represent 13% of the European population! If the Banque de France swears not to want to abolish the check, the authorities are multiplying the alternatives, to accelerate the disaffection, feeding the anger of the unconditional, very attached to one of its advantages, guaranteed by law: its free. In this context, the health crisis will undoubtedly serve as a catalyst. At the height of the confinement, the number of checks has indeed c

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