Press Release Summary:
Able to produce checks, registrations, titles, gift certificates, transcripts, and more, printing service using Appleton-manufactured Frank W. Abagnale Signature Watermark Safety Paper (controlled and distributed only by Standard Register) helps SMBs protect and secure their documents against illegal alteration. Paper's security elements include multicolored fibers; multi-tonal, mill-made, Frank W. Abagnale signature watermark; toner adhesion agent; and full chemical protection.
Original Press Release:
Abagnale's Watermark Signature on High-Security Paper by Standard Register Will Help Thwart Document Crime, Check Forgery
DAYTON, Ohio, May 30 - Frank Abagnale, the former con artist turned worldwide document security consultant, believes criminals attempting to copy, alter or steal checks or other original documents will be immediately deterred by a new high-security watermark safety paper bearing his name. The Frank W. Abagnale Signature Watermark Safety Paper is available exclusively through Standard Register (NYSE:SR).
Abagnale, whose youthful exploits as a forger and imposter were depicted in the motion picture Catch Me If You Can, and Standard Register, a document services company and a leading provider of document protection technologies, created the paper, which can be used for checks, registrations, titles, gift certificates, college transcripts, entrance passes, tickets, vouchers and coupons - key targets for document fraud and crime.
"I put myself in my own shoes when developing this paper with Standard Register," Abagnale said. "We looked at every possible way you could forge, counterfeit, alter or otherwise duplicate a check or document printed on this paper. I asked myself, 'If I was going to forge a check with this paper, what would I do?'"
Abagnale watermark safety paper makes it easy and affordable for small- to medium-sized businesses to protect and secure their documents, said Dan Thaxton, Standard Register's senior manager for security solutions. "Many want well-secured checks but don't have the check volume to justify a custom solution," he said. "This paper can be used by companies that know they're at risk, and want to take reasonable steps to protect themselves from a fraud attack, but may not be sure what those steps are. Because people know that Frank Abagnale is an expert on document fraud, they trust him for advice. This safety paper gives them the level of confidence they are looking for."
Companies of all sizes are vulnerable to a fraud attack, because a criminal doesn't care where the money comes from, Thaxton noted. "But the stakes are higher for small- to medium-sized companies, since a large company may be able to absorb a loss that a smaller company cannot. When you take steps to secure your documents, you are being proactive in enhancing your level of protection."
"Years ago, criminals would forge checks for $4,000 or $6,000," Abagnale said. "Now they forge checks for $175,000 or $250,000 or $700,000! So this watermark paper certainly pays for itself. It's like cheap insurance. Why expose yourself if you don't need to?"
The paper not only includes a variety of security features but also cannot be bought as blank stock on the open market, online or through a catalog or wholesaler. Standard Register controls the paper's manufacturing, handling, storing and distribution.
"That's most important to me - that each sheet is controlled and distributed only by Standard Register," Abagnale said. "With today's software, technology and equipment, there's virtually nothing you can't replicate. You can pull a company logo from a Web site and have a beautiful check in 15 minutes. But if you can't get access to the security paper in the first place, you can't do any of these things! I strongly believe there's a need for a high-security paper stock that is truly controlled."
Standard Register uses the paper to print secure documents, such as checks, for its customers. "You can't buy this paper blank," said Thaxton. "Until this paper is printed and personalized for a Standard Register customer, the raw paper is not accessible. Our security controls are among the best in the industry, and our customization of this product is critical for producing a secure product for every customer."
Abagnale said Standard Register has always made the security of its products a priority. "Fact is, I wouldn't trust anyone else in the world to produce and supply this paper," he said.
The paper, manufactured by Appleton, a leading provider of secure papers, includes security elements such as a multi-tonal, mill-made, Frank W. Abagnale signature watermark that is virtually impossible to mimic; a toner adhesion agent and full chemical protection, which safeguard against alteration; and multicolored fibers.
If companies aren't yet worried about a fraud attack, they should be, Thaxton said. Each year, U.S. companies lose an estimated 5 percent of their annual revenues to fraud, or $652 billion per year, according to a 2006 study by the Association of Certified Fraud Examiners.
Thaxton said fraudsters tend to attack inexpensive items, such as check stock bought at a stationery store, and not complex items like the Abagnale paper, which is difficult to mimic or counterfeit. "This is a best-in-class, in-pulp solution," Thaxton said. "Plus, there is no other paper in the world bearing Frank W. Abagnale's signature as a watermark. A criminal who encounters this paper will likely throw up his arms and try something else. Since the watermark is visible without special equipment, it's a powerful deterrent."
Thaxton said the Abagnale paper, or any other document security solution available through Standard Register, can substantially reduce an organization's risk and exposure to document fraud and can improve its defense in court if the company is accused of not taking appropriate steps to protect its documents.
"Liability laws have changed," Abagnale explained. "Now the law says, 'Whoever was in the best position to prevent the fraud from occurring assumes the liability.' There is an absolute need for a recognized, high-security paper."
The Abagnale product is part of Standard Register's comprehensive suite of document security solutions designed to protect checks and other important documents from fraud.
About Standard Register
Standard Register is a premier document services provider, trusted by companies to manage the critical documents they need to thrive in today's competitive climate. Relying on nearly 100 years of industry expertise, Lean Six Sigma methodologies and leading technologies, the company helps organizations increase efficiency, reduce costs, mitigate risks, grow revenue and meet the challenges of a changing business landscape. It offers document and label solutions, e-business solutions, consulting and print supply chain services to help clients manage documents across their enterprise. More information is available at http://www.standardregister.com/.
About Frank W. Abagnale
Frank W. Abagnale is one of the world's most respected authorities on forgery, embezzlement and secure documents. For more than 30 years, he has lectured to and consulted with hundreds of financial institutions, corporations and government agencies around the world. Abagnale lectures extensively at the field offices of the Federal Bureau of Investigation and at the FBI Academy. More than 14,000 financial institutions, corporations and law enforcement agencies use his fraud prevention programs. Abagnale believes that punishment for fraud and recovery of stolen funds is so rare, that prevention is the only viable course of action. More information is available at http://www.abagnale.com/.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Dan Thaxton http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=31094
CONTACT: Erin Rendina of Standard Register, +1-937-221-1445, firstname.lastname@example.org