Three large banks, including AIB and Bank of Ireland, have indicated negotiations with a US technology company in a bid to thwart cheque fraud.
Fraudlink is a programme to be rolled out in the banks by technology company Carreker.
The agreement means that 75% of Ireland's cheques will now be scrutinised under the system.
FraudLink essentially detects fraudulent cheques by comparing cheque characteristics with account history and known criminal behaviours.
Carreker claim the new system means large banks have been averaging fraud loss reductions of $1m per month.