Implement measures to make Checks and Wire Transfers fraud free

There is a big loophole in how the Checks are issued and credited and how the Wire Transfer mechanism works in the current financial system. As a result of this there is a continuous increase in related frauds affecting thousands if not millions of innocent people. Firstly, there is no mechanism at a Bank where the Check is submitted to validate its legitimacy right there. Secondly and more importantly, there is a big gap in how Checks show as credited in the Bank Account. Even uncleared checks show as positive deposit. The positive deposit could stay for as long as 45 days. Thirdly, there is no oversight on agencies like Western Union who enable the fraudsters to run away with the money of innocent people without establishing legitimacy and trail of the receiver at the other end.