Check scanning system a must

ISTANBUL - Hürriyet Daily News

The number of bad checks issued in Turkey has risen 39 percent in the first three months of this year, compared to the same period last year, Union of Chambers and Commodity Exchanges of Turkey (TOBB) President Rifat Hisarcıklıoğlu has said.

Only 51 percent of bad checks were reimbursed in the first three months of 2012, compared to 78 percent in the first three months of 2011, Hisarcıklıoğlu said, speaking at the Istanbul Commerce of Trade (İTO) meeting on May 10.

“We need to implement a bad check scanning system as soon as possible,” Hisarcıklıoğlu said, adding that he agreed with the move to no longer issue prison terms for issuing bad checks. “An economic crime should have an economic penalty,” he said, noting that checks are important tools in the economy, but if prison terms for issuing bad checks are eliminated, other precautionary measures will need to be implemented.