Tips to Protect Your Business from Payment Fraud

As the volume of electronic transactions increases, so does the risk of fraudulent activity online. This includes payments fraud scams, whereby cyberthieves commit false or illegal transactions.

Are you aware of the different types of payment fraud? Check out our free tip sheet to get details on phishing and identity theft, and how those schemes can impact and threaten your company. We also explain how the following tips and best practices can help you prevent payments fraud:

• Educate your employees so they remain fraud aware
• Treat every email request you receive with payment instructions as potentially fraudulent until verified
• Check the sender of the email – if you don't recognize them, avoid clicking on links or attachments
• Implement dual-factor authentication
• Secure your tech to ensure that anti-virus/malware software is installed

If you have questions about payments fraud and keeping your business secure, don't hesitate to contact one of our Treasury Management Specialists.