Is Your Business Paying the Price for Fraud?
- Check Fraud – While the use of paper checks is declining in the U.S., checks still account for a large portion of payment transactions, and fraud is always a risk. Whether the fraud is internal (an employee) or external (someone outside the organization), legitimate checks are being forged and counterfeit checks are being digitally altered to resemble a check that is genuine. Legitimate check alterations are also becoming relevant again. Payee names and/or amounts are being washed and changed.
- ACH Payments – ACH payments have become one of the primary means of noncash payment in the past decade or two. Fraudsters typically get a hold of banking account information to manipulate payments from the account. This can be done by opening accounts through identity theft or taking over an account online through the installation of malware on the company’s computer.
- Protect your checks with Positive Pay. With Positive Pay, your bank can check the account number, check number and dollar amount of each check presented for payment against a list of actual checks. You can decide whether to pay a check or not.
- Protect your online payments with ACH Filter. ACH Filter takes a proactive approach to filtering ACH debits by sending email notifications to those in the company with authorization levels. The filters can block transactions, authorize them, or mark them for review.
Don’t take a chance on your business. Fraudulent activity is, unfortunately, here to stay.