Our team at CSB would like to provide you with this resource we found educational useful for small businesses on fraud. We find that fraud is constantly changing and difficult to predict. Our team is always working hard to keep your money safe and secure – but we need your help. Below is content from an article from American Bankers Association that discusses 5 areas to focus on around the importance of awareness and some ways you can help protect your small business against fraud.
S. Stay Informed
You and your employees are the first line of defense against account takeover. Keeping your team informed about warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
You and your employees are the first line of defense against account takeover. Keeping your team informed about warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
E. Engage Your Bank
CSB has various programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes, and batch limits to help protect you from fraud. Contact your banker today to get signed up!
CSB has various programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes, and batch limits to help protect you from fraud. Contact your banker today to get signed up!
C. Connect Securely
It is important to protect your cyber environment just as you would your cash and your physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer.
It is important to protect your cyber environment just as you would your cash and your physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer.
U. Understand Responsibilities
Understanding the risks to you as a small business is important as business bank accounts do not enjoy some of the same protections as a personal bank account when it comes to fraud. Banks are not responsible for replacing funds if a hacker takes money from your business account.
Understanding the risks to you as a small business is important as business bank accounts do not enjoy some of the same protections as a personal bank account when it comes to fraud. Banks are not responsible for replacing funds if a hacker takes money from your business account.
R. Recognize Suspicious Activity
Look out for unexplained account activity. Setting up email alerts to receive notifications any time money is withdrawn from your account is a great way to alert you about withdrawals. If you detect something, immediately contact us at 800.488.3958.
Look out for unexplained account activity. Setting up email alerts to receive notifications any time money is withdrawn from your account is a great way to alert you about withdrawals. If you detect something, immediately contact us at 800.488.3958.
Cybercriminals are targeting small businesses with increasingly sophisticated attacks. Criminals use many means to obtain login credentials to business accounts, transfer funds from the accounts, steal private information, etc. Too often business owners believe that FDIC Insurance will protect you from fraud; it does not. FDIC Insurance only protects you from bank insolvency. Partner with us and stay SECURE today!
Summarized by Carianne Bricker
Marketing Coordinator at Community State Bank
Marketing@csbemail.com
260.994.0571
January, 2024
Marketing Coordinator at Community State Bank
Marketing@csbemail.com
260.994.0571
January, 2024