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before payment portals and email theft of your hard-earned customer
payment, theft was limited to internal theft, or the then creative mail
theft based “check washing.” For those of you too young to remember the
practice of check washing that was rampant in the 1980s, it involved
stolen checks (either out of mailboxes, post office, or mail drop boxes)
and then erasing details from checks using various common household
chemicals to “lift” the ink from the check. The “washer” then rewrites
the payee and amount, cashes it, collecting cash and wreaking havoc on
your bank account.
Fast forward to today’s cash flow environment
with email, and surprise—criminals have evolved as well. Cybercrime.
Malware, hacking, phishing, smishing and any other “-ishings” that are
coming down the internet all present opportunities for your cash flow to
get hijacked.