How Dynamics GP SafePay Can Protect You From Check Fraud

Module of the Month- SafePay

Are you concerned about check fraud?

Most of our Dynamics GP clients* already own a module in Dynamics GP called SafePay (also called Positive Pay or Posi Pay). But not everyone uses it to protect themselves against check fraud.

Quick check fraud facts:

October to February is the busiest time of year for scam artists.
77% of organizations affected by payments fraud report that checks were targeted.
70% of B2B payments are still made via check.
The average unauthorized check transaction was valued at $1,221 (versus ACA $750, ATM $217, Credit Cards $138)

Sources: www.ckfraud.com and www.stopcheckfraud.com

*SafePay is included in Microsoft Dynamics GP Starter Pack as well as the older Business Essentials and Advanced Management versions. The only customers who may not already own it would be those who remain on the old Module Based Licensing that didn’t purchase it.

Protect Your Company with SafePay in Dynamics GP

With SafePay, every time you produce checks out of your system you send a copy of your check register in an electronic fashion to your bank so they will know what check number was issued for what amount. If someone tries to manipulate, or cash, that check for a different amount the fraud would be caught immediately when the check is presented. As opposed to catching it later once the money has already been transferred to the crook, which makes it more complicated to straighten out. This module is easy to set up on your Dynamics GP system and just requires some testing with your bank to complete. SafePay can go a long way to protect you from check fraud.