Use of pre-authorized electronic transactions has become an increasingly common and convenient way to make payments and settle other financial obligations. As ACH or EFTs continue to become more popular, there has also been a rise in related fraudulent activity.
Gateway is supported by a multi-factor authentication architecture that ensures secure system access and transaction delivery. Gateway also incorporates extensive processing controls and fault tolerant operations, enabling First Bank to meet the most stringent business audit control requirements.
Unfortunately, no single security measure is likely to be effective in preventing or mitigating all fraud risks.
A layered approach to online banking security is the best way to protect First Bank’s customers from criminals seeking to drain their accounts and steal confidential information. One of the most important components of this layered security process is the use of Dual Control.
Gateway Dual Control
Dual Control requires two different people to complete the ACH origination process - the first person initiates the transaction(s) and a second person, the approver, confirms the validity of all transactions before the information is sent to First Bank for processing.
Dual Control helps ensure that errors or irregularities in ACH transactions are detected on a timely basis during the normal course of business.
Additional Security Measures
- Reconcile all banking transactions on a daily basis and report any discrepancies or suspicious transactions immediately.
- Initiate ACH payments under Dual Control - one individual initiates the entry and a second individual approves the entry.
- Use a dedicated PC, one not used for any other online activity, for accessing online banking accounts.
- Be aware of changes to the look of the Gateway login screens. If the screens are unfamiliar or if the customer is prompted multiple times for a security code, contact us immediately at Treasury Management Client Support at 1-866-326-7113.
DISCLAIMER: While these best practices are effective steps toward mitigating fraud, they are not an inclusive list of preventative measures or a guarantee of online security. Please consult an information technology security professional for protective measures to suit your particular needs.