If you see ads touting software that you can download to immediately start writing checks and paying your vendors, you’ll want to tread cautiously. The provisions of the Bank Secrecy Act require that sellers of payment software complete several steps that will enable them to verify the legitimacy of their customers, says Richard Rogers, president of yourfavorite.com, publisher of checkwriter.com and several other payment applications. The reason? Payment software that’s available on demand and doesn’t require any verification of the purchaser’s legitimacy, could be used by anyone, anywhere in the world, to defraud others or commit terrorism. (more…)