Thankfully, banks have processes to deal with this easily and quickly, and as long as you pay attention to your bank statements, the risk of successful check fraud is minimal. Check statement against what you think you're paying, verify anything questionable, call the bank if you don't recognize the transaction.
They've been dealing with this problem for centuries now. First evidence of a modern-ish type of cheque (hand-written, paid by bank, etc.) was from 1659. There are multiple processes and statutes in place for dealing with it, most of which require timely notice of mis-paid checks. So, while paying by check risks fraud, so does every other method of payment, because you might not know it's a fraudulent transaction until after you've handed over the cash and the guy ran for it.
This is only news because the amount is high, and the victim didn't notice until too late. Time to file a police report (on the fraud, not the bank), and talk with a lawyer (many offer free initial consults to see if there's anything they can do, possibly including working on contingency).