Minimize Your Risk of Check & Electronic Payment Fraud
Checks and electronic payments are critical to your operations, but they’re also major targets for fraud. Criminals may attempt to alter your business’s checks or use sophisticated laser printers to counterfeit them. Or, they may attempt to gain access to your accounting system and initiate a fraudulent wire transfer. Here are ways to help minimize your risk: • Use a well-known check printing company, and be sure your business’s checks include security features such as artificial watermarks, a warning band that calls attention to security features, and microprinting that copiers and scanners cannot easily duplicate. • Subscribe to Treasury Management services such as Positive Pay that help you more efficiently review account activity. This can reduce the risk that an altered check, counterfeit check, or fraudulent electronic (ACH) payment will debit your account. • Set clear guidelines for the use of passcodes and other online access credentials to help protect computer networks and control data flow. • Secure your offices by keeping check stock and sensitive files locked, and monitor the assignment of keys. • Limit access to company data to those employees who need the information to perform their duties. • Always check references of companies you do business with – especially if they will have access to secure locations or areas of your network.
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