The Accredited Standards Committee X9 Inc. (X9) recently launched an industry forum to mitigate check fraud and help the check payments industry minimize risk against financial scams.

The X9 Check Fraud Industry Forum facilitates an open roundtable forum for the check payments industry to enable discussion on check fraud, fraud deterrents, and prevention techniques, and the content of X9’s influential Technical Report #8 (TR 8) on check security.

X9 reports that findings will be added to TR 8 and disseminated to the industry. The launch meeting will be held online on April 16 at 1:00 p.m. ET.

"Cutting back on fraud in the use of checks for payment obviously benefits all involved – the individuals and businesses who are the victims as well as the banks that are the unwitting venues for criminals’ activities," said X9 executive director Steve Stevens. "X9 has been a leader in check management for decades, starting with the creation of machine-readable numbering and continuing with the conversion of checks into digital images.”

X9 administers the U.S. Technical Advisory Group (TAG) for ISO TC 68, Financial Services. The U.S. holds the secretariat to TC 68; ANSI has delegated duties to X9.

Access more information about the forum via X9’s recent press release.