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Steps to Minimize the Risk of Fraud

Today, businesses face many potential cyber-attacks. Protect your business by focusing on these three key areas of protection.

Steps to Minimize Risk

Today, businesses face a variety of potential cyber-attacks. Hackers, backed by professional criminal organizations, are targeting small and mid-sized businesses to obtain access to their web banking credentials or remote control of their computers.


Protect your business by focusing on three key areas of protection:


Technical

  • Download and install Trusteer Rapport® protection on all of your personal computers
  • Apply operating system and application updates (patches) regularly and keep them up to date
  • Ensure anti-virus/spyware software is installed, functional and updated with the most current version
  • Install host-based firewall software on all computers
  • Use latest versions of Internet browsers, such as Explorer, Firefox or Google Chrome, with “pop-up” blockers
  • Turn off your computer when not in use

Operational

  • Reconcile bank accounts in a timely manner - daily, if possible
  • Use a dedicated computer for financial transactional activity; do not use the same computer for general web browsing and email
  • Protect and frequently change your passcodes and other online access credentials
  • Separate duties by requiring a minimum of two individuals to originate and approve electronic funds transfers
  • Release ACH batches and wire transfers by using the security token provided by Cadence Bank
  • Review your banking transactions and credit report regularly

Administrative

  • Create an employee Internet policy and audit often
  • Hold employee awareness training to spot red flags and set-up immediate notifications to banking partner
  • Utilize Positive Pay and ACH Positive Pay offered by Cadence Bank; these tools alert you of potentially fraudulent transactions before they impact your accounts
  • Use credit cards for payments
  • Review and strengthen internal procedures and controls as appropriate
  • Ensure disaster recovery plans include the ability to continue with strong controls
  • Restrict company network access for payments to company-issued laptops via mobile devices for emergency situations only



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