Financial Tools for Cybersecurity and Preventing Check Fraud

Safeguard assets by automatically blocking unauthorized ACH transactions.

Identifies possible fraudulent checks.

Install free IBM® Security Trusteer Rapport® to protect against malware and phishing attacks.

ACH Debit Blocks

Protect your account from electronic fraud by utilizing ACH Debit Blocks. This service provides an essential added layer of security towards safeguarding your assets by automatically blocking all ACH transactions, stopping electronic transactions before they hit your account, keeping your funds safe from unauthorized electronic activity.

Standard Service Includes:

Ability to set up blocks for specific companies or at an account level
Filters can be set up to allow only pre-authorized companies, creating exceptions for all other transactions
Ability to filter transactions based on designated amount

Standard Service Includes:

Upload check issuance via online banking or secure file transfer.
User entitlements and approval levels for added security
Unlimited upload of check issuance
40 days of issue file history (via online banking)
Alerts and confirmations for check issues and exceptions to help you manage the items

Secure Data Transfer Service (sFTP)

Our Secure Data Transfer Service commonly known as (“Data Transmission”), facilitates your need for faster communication and delivery of information to and from the bank securely. Receive balance summaries, transaction details via BAI2 files, and send check issuance information to the bank directly without the need to sign into online banking.

positivePayPlus

ACH Blocks and Filters

Security Best Practices

We offer these guidelines to help you protect against transactional and online fraud. When you consider the potential financial losses, business disruption, recovery time, and costs associated with fraud, implementing these security best practices and due diligence upfront is well worth the effort.

With the increase of cybercrime and fraud scams, you cannot rely on a single system or service to effectively mitigate against transactional and online fraud risks. We urge our customers to adopt many risk mitigation best practices such as multiple layers of security, refinement of operational procedures and system controls, and installation of IBM® Security Trusteer Rapport® and other security software to achieve higher levels of security protection.

When it comes to fraud and cybercrime, you have the tools and responsibility to prevent losses to your business. Please consider the recommended guidelines below, as well as all current and new tools that become available to help safeguard and strengthen your business against financial fraud.

Verify payment information with sender when notified via email for payment

Call the email originator at a previously documented number (provided outside of the email) to confirm payment instructions are accurate. Fraudsters send emails to individuals and businesses from an email account that is disguised to be from a known vendor. Fraudsters may also alter the original email instructions, causing the funds to be rerouted to the fraudster instead of the intended vendor. Be cautious of emails that press urgency and secrecy. Look for slight variations in email addresses and subtle discrepancies.

Install IBM Security Trusteer Rapport

We provide this complimentary software to help you combat financial fraud. Trusteer Rapport’s innovative technology picks up where conventional security software falls short. From the moment it is installed, Trusteer Rapport protects the customer’s device and mitigates financial malware infections. It provides instant PC and Mac anti-fraud protection against financial malware, as well as phishing attacks.

Implement dual control (Bank’s Standard Settings) to initiate and release payment transactions on separate machines

Having a minimum of two persons involved in a transaction ensures accuracy, and adds a layer of complexity to keep fraudsters and internal employees from compromising your accounts.

Establish appropriate company and/or user transaction dollar limits

This will help limit the exposure in case of unauthorized payment attempts.

Never disclose or write down usernames, passwords, and token passcodes

Never disclose these types of sensitive information to another party via phone, email, text or chat. Bank personnel will never ask for passwords and token information.

Review full details of the payment transaction before release

Promptly review ACH, Wire Transfers, and other transaction notifications

Set up email alerts for ACH, Wire Transfer, and balance thresholds

Email alerts will help bring your attention to unauthorized transactions and unusual changes to your account balance.

Reconcile account activities daily

Regularly review user access

Allocate permissions and access to staff on an “as needed” basis to manage risk and limit over-privileged users. Promptly deactivate employee access when it is no longer needed.

Related Links

Consumer Security

Trusteer Rapport

Always update to current versions of firewall/antivirus software and related technologies (operating systems, browsers, and security suites) and scan on a regular basis.

Security updates patch vulnerabilities that may be exploited by malware and help keep users and their data safer. You are only as protected as your system and security software updates.

Dedicate a computer with restricted internet access to conduct financial activities (accounting, online banking, and outgoing ACH/Wire transfers)

Restricting web surfing, email, and other access of the computer will help limit the exposure and possibility of infections.

Enhance your password security by making your passwords more complex and use different passwords for different accounts and systems

Try combining random words together for easy remembering. Incorporate upper and lower case letters, numbers, and symbols. Do not use birthdays, family names, or telephone numbers.

Consider using false answers for security authentication questions

Fraudsters do their research before taking action on their target. They can gather general public knowledge and formulate detailed information. Thus using mixed or untrue information will help strengthen your accounts’ security.

Do not open unrecognized email and open familiar emails with caution. You can never tell who is truly behind the email

Email is not a secure medium of communication. Only general inquiries should be sent via email. Encrypt sensitive data before sending

Do not respond to any messages requesting the following information:

Online banking credentials
Personal information (social security number, business TIN, mother’s maiden name, and etc.)
Bank account, credit card or ATM/debit card numbers

Disable ‘AutoComplete’ or other memorize password functions on browsers

Avoid downloading attachments or clicking on embedded links in emails or websites whether you are or are not familiar with them

Log off when you’ve finished your banking or if leaving your computer unattended

Restrict access to computer functions, including software installations, USB, and CD Burner

Use HTTPS websites

Avoid connecting to unsecure Wi-Fi

Unsecure internet networks may allow fraudsters to intervene and steal information as it is being transmitted. Review your mobile device’s setting to disable ‘Auto Connect’ feature to avoid connecting to unknown/unverified networks.

Avoid use of public computers and unsecure internet connection

Related Links

Consumer Security

Trusteer Rapport

Utilize Positive Pay Service

This service examines key fields of the check when it is presented to the bank and the information provided by you, giving the bank the ability to inform you when discrepancies arise. Easily determine whether to pay or return the exception via online banking.

Utilize ACH Blocks & Filters

You can either block all incoming debits with ACH blocks, or designate a list of authorized debits/credits with filters. If the ACH originator is not on the authorized list you provide, we will return unauthorized transactions.

Utilize dual control throughout your check stock storage, printing, issuing, signing, and dispatching

Audit and destroy old inventory

Customize your check stock with security features

Customizing your check with a watermark, chemical resistance, fluorescent fibers, bleach-reactive brown stain, photocopy void pantograph, security ink message, micro-printing, or holographic marker helps prevent check altering and counterfeits.

Be mindful of the information you are throwing into the trash

Related Links

Consumer Security

Trusteer Rapport