Our Fraud Prevention Tools for Small Businesses

The possibility of business fraud is always present, whether it's an employee stealing company funds or outside criminals hacking into your servers and stealing customer credit card information. Then, there's the rise of ACH, check, and wire fraud that shows no signs of slowing down. Despite these persistent threats, businesses have access to powerful fraud prevention tools.

Read on to learn how Town and Country and Peoples Prosperity Bank offers fraud prevention tools that can help minimize the risk of your business suffering fraud losses.

Cash Management

Clever fraudsters can quickly drain business accounts that lack sufficient processes and systems designed to defend against cyberattacks. You know the cost-saving and time-saving advantages that come with using internet banking for payroll and bill processing. Our Cash Management users also have peace of mind knowing that ACH and wire transfers are sent and received securely.

Our secure ACH origination process allows you to create batch files within our system or upload your own NACHA-formatted files. Secure processing extends beyond providing designated employees unique logins, passwords, security tokens, and one-time use codes. As the Account Administrator, you can also limit employee access to specific accounts and timeframes of accessibility and establish dual controls.

These extra safeguards strengthen fraud protection measures by blocking criminals from gaining access to your private data.

Positive Pay and ACH Filters

Businesses can squash electronic check and electronic payment fraud schemes with Positive Pay and ACH filters. This powerful one-two punch offers a simple way to protect your business against various scams that threaten your cash flow.

• Positive Pay verifies each check transaction attempt, so you can accept or reject checks or payments that do not match a check file you provide.
• ACH filters let you define the parameters, e.g., company name or amount range, that result in automatic payment or return of ACH debits or credits.
• You can also choose to approve or reject each check or electronic transaction.

Fraud detection becomes easier when you add both tools to your toolkit. You'll receive mismatch alerts as they occur. Staff can approve the payment online with little disruption to the workday, allowing them to spend time on other business activities.

Remote Teller

Paper checks can be easily altered. Crooks deposit them after changing the payee and sometimes the dollar amount. Checks that leave significant gaps between or after text and numbers are most susceptible to manipulation. Even though laser-printed checks are a step in the right direction, they aren't enough to keep your business safe from this type of fraud. Criminals may also use sophisticated technology, like check washing, to change the amount and payee before cashing the check.

You can prevent check fraud in all forms by limiting the circulation of paper checks. Endorse, scan, and electronically deposit physical checks before a criminal has a chance to steal them. Assign staff to deposit checks within 24 hours of receipt. This can be done without visiting a branch location. All you need is a secure internet connection, our desktop check scanner, or our mobile app to receive same-day credit for deposits made by 6:00 p.m.

We're Here to Help

Learn more about these and other Treasury Management banking solutions that help keep fraudsters at bay by contacting one of our Treasury Management professionals today at 1-866-770-3100.