Protecting You At All Costs
Attempts at fraudulent transactions in the banking industry exceed $100 million annually and the figure continues to grow rapidly each year. ACH, bill payment and wire transfer transactions originated through online banking systems have been increasingly subjected to fraudulent activity.
Small and medium-sized businesses, non-profit organizations and public institutions are the more frequent targets for these online attacks, which have become more and more sophisticated. Criminals can easily and quietly steal a company's valid online banking credentials through unsolicited e-mails, infected websites and other means.
Unfortunately, no single security measure is likely to be effective in preventing or mitigating all fraud risks. Protecting your business requires a layered approach through educating your employees, using security technology such as anti-virus protection, anti-malware and firewall protection, reconciling bank account information daily and utilizing dual control methods on payment transactions.
It is strongly recommended that businesses periodically perform their own internal risk assessment and evaluate internal controls. This helps you identify potential risks that threaten your business operations, the impact if those risks occur, and how your company should respond to an event.
Get Started / Questions?
To learn more about how we can help you protect your business contact the First Bank Treasury Management Officer in your area.
Your security is important to us. When communicating via email, please do not include any personal, business or confidential account information. Thank you!
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