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Fraud Prevention

Fraud Prevention

Fraud is a very real threat for businesses, particularly when it comes to payment processes. Billions of dollars are stolen each year through credit card, check, wire and ACH fraud. With fraud, the best offense is a good defense, and we do our best to help.

Business clients only have one business day to dispute an ACH transaction. If a check is presented for payment, you have 30 days from the statement date of your last statement to notify the bank of the fraudulent transaction. That doesn’t leave a lot of time and can be a liability for your business. That’s why we conduct daily validity reviews and offer automated fraud prevention monitoring tools. In addition, we offer the following solutions, at an added cost, that can help protect your business:

POSITIVE PAY

Positive Pay compares checks presented for payment against check information you provide via i-BusinessBankingTM file upload in order to identify discrepancies like mismatched numbers or dollar amounts online. When an exception occurs, you are notified so you can review the check, determine if a fraud attempt has been made, and indicate whether or not the check should be paid.

ACH POSITIVE PAY

ACH Positive Pay services scan your electronic transactions and automatically return any unauthorized entries to the originator. With ACH Positive Pay, you have control: electronic debits are rejected before posting to your account and you create the filtering criteria.

Ask a banker for more information.