Fraud Prevention Tips

Did you know October is National Cybersecurity Awareness month? It’s a month dedicated to raising awareness about the importance of cybersecurity, and a time for all of us to refresh our knowledge of cybersecurity best practices to protect our personal and business information.

PERSONAL FRAUD PREVENTION TIPS

General Best Practices:

  • Protect your WiFi network with a strong unique password or run a firewall if you have a broadband connection.
  • Keep anti-virus and anti-spyware up to date on all computers.
  • Access your bank information from a secure location.
  • Change passwords regularly- InBank requires a password reset every 90 days.
  • Never provide your personal account information to anyone who calls, emails or texts you without verifying the request.
  • When making a debit card purchase, push credit instead of debit.
  • Receive e-statements through your personal online banking.
  • Review your statements and transactions on a regular basis to make sure that everything looks accurate.
  • Keep your personal information such as your phone numbers, email address, and primary mailing address up to date and on file with the bank.
  • Never share passwords or authentication codes- InBank will never ask for this data from you.
  • Beware of Email Phishing – the practice by fraudsters to trick you into providing personal information.

BUSINESS FRAUD PREVENTION TIPS

Protect Your Devices:

  • Setup a dedicated banking hub- Choose a specific office computer as your “banking workstation” and use it only for business banking.
  • Keep anti-virus and anti-spyware up to date on all computers.
  • Never share passwords or authentication codes- InBank will never ask for this data from you.
  • Change passwords regularly- InBank requires a password reset every 90 days.
  • Protect your WiFi network with a strong unique password or run a firewall if you have a broadband connection.

Protect Your Accounts:

  • Monitor/Reconcile your bank accounts daily.
  • Enroll in account alerts/notifications in Online Banking.
  • Store payment instructions in your accounting software or Online Banking templates- prevents accidentally entering the wrong payment instructions.
  • Implement Fraud Prevention Tools with InBank:
  • Positive Pay- Protects against check fraud.
  • ACH Positive Pay- Protects against electronic transaction (ACH) fraud.
  • Assign Dual Control – InBank requires two users/employees to initiate and approve outgoing transactions for ACH and Wires.
  • Manage user IDs during employee turnover- delete access immediately for employees who are no longer with your company.

Business Email Compromise Prevention:

  • Implement Multi-Factor Authentication for email.
  • Urge employees to use caution in reviewing emails prior to engaging or clicking on links.
  • Lock workstations when leaving unattended.
  • Only email proprietary information in encrypted emails.
  • Implement policy to validate all new payment instructions or a change in payment instructions for vendor payments, employee’s direct deposit, etc. to be verified by a phone call.

Please reach out to our Business Support team for any questions or concerns at Business.Support@inbank.com.

Share

We're In This Together

Committed to strengthening local communities and providing a foundation of support for our customers. Building relationships for today and tomorrow.

Member FDIC and EHL logos