Fraud and Cybersecurity: Bank Fraud Protection from InBank

Fraud can happen quickly. Having the right protections and a banking team you can reach can make a meaningful difference.

InBank combines bank fraud protection with secure banking technology, practical tools and personal support from bankers who understand your relationship. For businesses, that includes access to treasury management solutions designed to strengthen business banking security. For individuals, it includes secure ways to manage and monitor accounts.

Effective fraud prevention also requires action from the account holder. Whether you are managing household finances or evaluating cybersecurity for a small business, the goal is the same: reduce opportunities for fraud, identify suspicious activity early and know what to do when something does not look right.

InBank is a Member FDIC community bank serving customers across Colorado and New Mexico.

01/07

How InBank Protects Your Accounts

Fraud protection works best when multiple layers are working together. InBank uses banking technology, account controls and customer support to help reduce the risk of unauthorized activity.

Depending on your account and the services you use, these protections may include:

  • Secure online and mobile banking. InBank’s online and mobile banking services give customers a secure way to access account information, review transactions and manage banking activity.
  • Multifactor authentication. Multifactor authentication adds another step when verifying your identity. This can help prevent someone from gaining access with a stolen username and password alone.
  • Account and transaction alerts. Account alerts can help you identify activity that falls outside your normal patterns. Reviewing alerts promptly gives you an opportunity to contact the bank if you do not recognize a transaction.
  • Ongoing account monitoring. InBank uses ongoing monitoring and internal controls to help identify activity that may require additional review.
  • A banker who knows your relationship. Technology is important, but fraud response should not end at an automated help center. InBank customers can contact a local banker who understands their accounts and can help determine the appropriate next steps.

These protections are designed to reduce risk, but no security system can prevent every instance of fraud. Customers should continue to monitor their accounts, protect their credentials and report suspicious activity as soon as possible.

Learn more about InBank business banking products and services⁠.

02/07

Fraud Protection Tools for Your Business

Businesses often have more people, payments and access points to manage than an individual account holder. That creates additional exposure to check fraud, unauthorized ACH transactions, compromised credentials and fraudulent payment requests.

InBank treasury management services can help businesses create stronger controls around how money moves.

  • Positive pay. Positive pay helps a business review checks presented against its account. The business provides information about authorized checks and transactions that do not match can be flagged for review before they are paid. This additional review can help reduce the risk of altered, counterfeit or unauthorized checks.
  • ACH filters and blocks. ACH filters and blocks help businesses control which electronic debits are allowed to post to an account. A business may choose to block unauthorized ACH activity or define which companies are permitted to initiate transactions.
  • Transaction alerts. Transaction alerts can notify designated employees when certain account activity occurs. Alerts can help businesses review unusual activity sooner and respond when something requires attention.
  • Dual authorization. Dual authorization requires more than one person to approve certain payments or administrative changes. This can reduce the risk of a single compromised account or employee error leading to an unauthorized transaction.

These tools are most effective when they are configured around the way your business actually operates. The InBank Business Concierge team⁠ and your local banker can help you evaluate available controls, coordinate setup and understand how they fit into your payment processes.

Explore InBank treasury management tools like positive pay and ACH filters⁠.

03/07

Cybersecurity for Small Business and Personal Accounts

Strong account security does not have to be complicated. A few consistent habits can reduce common vulnerabilities and make suspicious activity easier to catch.

  • Use strong, unique passwords. Create a different password for each financial account and business system. Avoid reusing passwords across banking, email, payroll and accounting platforms. A reputable password manager can help store and generate strong passwords securely.
  • Turn on multifactor authentication. Use multifactor authentication wherever it is available, especially for banking, email, payroll and accounting systems.
  • Verify payment changes through a known contact. Fraudsters may impersonate an employee, executive, vendor or customer and request new payment instructions. Before sending money or changing account information, contact the person or company using a phone number you already know. Do not rely on the phone number or contact information included in the request.
  • Keep devices and software updated. Install operating system, browser, application and security updates promptly. Updates often address known vulnerabilities that criminals may attempt to exploit.
  • Monitor accounts and alerts. Review account activity regularly and investigate transactions you do not recognize. Businesses should assign responsibility for monitoring alerts, exceptions and payment activity.
  • Use secure networks. Avoid accessing financial accounts over public Wi-Fi. Use a trusted private network or secure cellular connection when managing sensitive information.

04/07

Common Scams at a Glance

Business fraud prevention starts with recognizing the types of activity that should prompt additional scrutiny.

  • Phishing and smishing. Fraudulent emails and text messages may appear to come from a bank, vendor, government agency or familiar company. They often try to create urgency and pressure the recipient to click a link, open an attachment or provide sensitive information.
  • Business email compromise. A criminal may impersonate an executive, employee or vendor and request a wire, ACH payment or change to payment instructions.
  • Check fraud. Stolen or counterfeit checks may be altered and presented for payment using a business or personal account number.
  • Account takeover. A criminal may use stolen credentials, personal information or one-time passcodes to gain access to an account and initiate unauthorized activity.

For a closer look at how these schemes occur and how companies can respond, read our article on How Business Fraud Happens and What Colorado Companies Can Do to Stop It.

05/07

InBank Will Never Ask You for That

Be cautious when someone contacts you unexpectedly and claims to represent InBank.

InBank will never contact you without warning and ask you to provide:

  • Your online banking password
  • Your PIN
  • Your full card number
  • Your full account number
  • A one-time passcode sent to your phone or email

Do not provide this information in response to an unsolicited phone call, text message or email.

Fraudsters can manipulate caller ID, email addresses and text messages to make a request appear legitimate. They may also create a sense of urgency by claiming that your account has been locked or that immediate action is required.

End the conversation and contact InBank directly using a phone number from your statement or the official InBank website. Do not call a number included in the suspicious message.

06/07

How to Report Fraud

Report suspected fraud or unauthorized activity as soon as possible. Prompt reporting may help limit additional exposure and gives the bank an opportunity to review the situation.

07/07

Fraud and Security FAQs

  1. 01 How do I report fraud to InBank?

    Call your local InBank branch or contact InBank directly as soon as you notice suspicious or unauthorized activity. You may also visit an InBank branch. Use a verified phone number from your account statement or the official InBank website.

    To report fraudulent activity or a lost/stolen call us at 1.877.550.2321.

    Fraud can also be reported to the Federal Trade Commission and cyber-enabled incidents can be submitted to the FBI Internet Crime Complaint Center.

  2. 02 What will InBank never ask me for?

    InBank will never contact you unexpectedly and ask for your password, PIN, full card number, full account number or one-time passcode by phone, text or email. End the conversation and call InBank using a verified number if someone asks for this information.

  3. 03 How does InBank protect my business accounts from fraud?

    InBank offers layers of account protection that may include secure online banking, multifactor authentication, account monitoring and alerts. Businesses may also have access to treasury management tools such as positive pay, ACH filters and blocks, transaction alerts and dual authorization.

    Exact services depend on the account and enrollment. These tools reduce risk but cannot guarantee that fraud will not occur.

  4. 04 What is positive pay and how does it help prevent check and ACH fraud?

    Positive pay compares checks or ACH transactions presented for payment with information provided by the business. Transactions that do not match the authorized information may be flagged for review before they are processed.

    Positive pay can reduce the risk of unauthorized activity, but it does not guarantee that every fraudulent transaction will be prevented.

  5. 05 Is my money safe at InBank?

    InBank is a Member FDIC bank, which means eligible deposits are insured up to applicable FDIC limits. InBank also uses account security measures and offers tools that can help customers monitor activity and reduce fraud risk.

    FDIC insurance does not protect against every type of loss, including all losses caused by scams or authorized payments made to a fraudster.

Talk with an InBank banker about protecting your accounts

Fraud prevention is not one-size-fits-all. The right controls depend on how you access your accounts, how your business processes payments and who is authorized to move money.

A local InBank banker or the Business Concierge team can help you review available protections, including positive pay, ACH controls, account alerts and approval procedures.

Small Business Administration (SBA) collateral and documentation requirements are subject to SBA guidelines.

Owner occupied commercial real estate will be determined in underwriting and requires occupancy by the borrower/guarantor. Please note SBA guidelines require at least 51% occupancy to be considered Owner Occupied. Real Estate financing options are subject to approval and product availability is subject to change. For SBA loans, SBA eligibility and restrictions apply.

Small Business Administration (SBA) financing is subject to approval through the SBA 504 and SBA 7(a) programs. Loan terms, collateral and documentation requirements apply. Actual amortization, rate and extension of credit are subject to necessary credit approval. InBank credit standards and documentation requirements apply. Some restrictions may apply.

INTQ Financial, a Division of InBank