HOW ARE YOU PROTECTING YOUR BUSINESS?

As your bank, we’re here as a resource with tips and tools to help keep your business protected from email fraud. Below you will find educational videos to help you and your team learn how fraud happens and ways to avoid it.

 

WHAT IS BUSINESS EMAIL COMPROMISE?

Business email compromise, also known as email fraud, is a billion-dollar crime industry that tricks employees into sending money and/or sharing company information.

 

Watch this video to learn more.

CEO FRAUD

With email fraud coming at businesses from inside and out, awareness at every level is one of your best defenses.

 

Watch this video to learn more.

INVOICE FRAUD

The FBI warns about three types of invoice fraud that could be very costly to vulnerable businesses. 

 

Watch this video to learn more.

HOW CAN I HELP PROTECT MY BUSINESS?

Best Practices to Consider

Create company policies:

  • Contact the requestor to verify they sent the email
  • Validate payment instructions with details on file
  • Implement multiple approvals for large remittance amounts
  • Implement approval protocol when executives initiate a transaction
  • Set checks and balances

 

Provide scenarios that resonate with daily activities and functions.

 

Ensure employees understand how to decipher fraudulent emails and URLs.

  • Do the details in the email match?

 

Supply employees with instructions if they suspect or experience fraud. It is important to act quickly.

 

Technology

  • Build in system controls within the IT portion of your business to map existing workflows for ACH and wire payments. Identify weaknesses that could expose you to risk.

WE'RE HERE TO HELP

We are in your corner and dedicated to serving as a resource. For information on fraud prevention services and tools, please contact Treasury Management Operations at 800.693.7695 or visit your nearest branch.