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Commercial Fraud Center

Cyber security is a growing concern for businesses. Cadence Bank uses Positive Pay, ACH Positive Pay and Security Software Solutions to minimize your exposure to fraud.

Minimize your exposure to fraud

At Cadence Bank, we are attuned to fraud risks and urge all of our business customers to consider our carefully crafted products and services developed to lower the risk of your business becoming the target of fraud.

 

Contact a Cadence Bank Treasury Management Banker today to learn more about protecting your organization against fraud.

 

Positive Pay ACH Positive Pay Security Software Solutions
Online and automated check fraud prevention tool with built-in reconciliation A user-friendly online system that provides your company with early notification of suspicious debit transactions Trusteer keeps criminals away from the browser and prevents the theft of any personally identifiable information
Multiple options for submitting check issued files, one-off issued checks and voids Corporate clients have 24 hours to dispute an unauthorized ACH debit Secures your employees’ browsers from financial malware attacks and fraudulent websites
Automatic updates provided to Item Processing, Teller Line and Account Recon team
Easily setup ACH filters to allow debit authorization
Proactively protect against attacks that target your business directly
Email alert of exceptions with user-friendly online decision process Receive email notifications that let you know if you have debit exceptions to review and decision Contains mechanisms to detect phishing attacks
System automatically reconciles issue, paid and outstanding checks producing recon details The Bank receives immediate alerts of suspicious activity

 

 

Business Email Compromise

help prevent wire fraud verify all requests with a simple call back

Business Email Compromise (BEC) is a sophisticated scam targeting businesses of all sizes – including, but not limited to, those that regularly perform wire and Automated Clearing House (ACH) transfer payments and those that work with foreign suppliers. According to the Federal Bureau of Investigation Internet Crime Complaint Center (IC3), as of July 2018, global losses due to BEC have exceeded $12.5 billion.

 

Business email compromise can take a variety of forms, but in almost every case, the scammers target employees with access to company finances. Using their knowledge of an organization, the cyber criminals trick the employee into making wire transfers to bank accounts thought to belong to trusted partners. However, the money ends up in accounts controlled by the criminals. It may sound simple, but the level of sophistication is unprecedented.

 

How To Protect Against BEC

Treat every email request you receive with payment instructions as potentially fraudulent until verified. To verify, contact the individual who initiated the request via phone using a number from within your company’s database. Be sure to confirm the accuracy of the ABA and account number with the requester.

 

See what the FBI has to say about common ways BEC attacks can take place and how you can keep your organization protected.

 

 

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