1. Guard your online information. Be sure to continually maintain the security software of your computers and teach employees to avoid entering personal information (like financial information and log-in credentials) into public computers, which may contain software that captures passwords or other information upon entry. Look for HTTPS at the start of a URL on a website when logging into an account or exchanging data with, such as banking or ordering items online.
2. Monitor your accounts. It is recommended to log into your financial account daily through online banking or a mobile banking app that enables you to keep an eye on your balances and account activity and ensures that you catch unauthorized transactions quickly. At Rockland Trust, you can also set up online banking alerts to notify you of transactions or changes in your account based on your preferences.
3. Business Email Compromise. Be aware of emails that note a change of financial data, attachments, links, unusual content and requests. Be certain that your team is validating changes to financial data by phone with a trusted contact every time!
Pro Tip: Stop, breathe, ask: Often, scammers rush their victims and push lots of emotional hot buttons to get you to stop thinking rationally. Never let strangers force you into fast decisions. Pause, calm yourself and think clearly and critically. Chances are you'll quickly see the situation for what it is. Don't be afraid to hang up and validate with your financial institution and/or law enforcement.
4. Shred sensitive documents. Keep banking records such as ATM, deposit slips and checks that you deposit through mobile banking until you reconcile them with your monthly statement, then shred. Store monthly checking and savings account statements securely until you file your taxes, then shred unless needed to prove a deduction on your tax return. Better yet, sign up for eStatements to access statements online, anytime, anywhere. At Rockland Trust, online statements are available for up to three years. Keep your eye out for Shred Events that are hosted at our branches throughout the year.
Download our 2022 Fraud Prevention Checklist
5. Check your credit report. Review your credit reports for any suspicious activity, such as accounts you didn't open. You can purchase a copy of your credit report through providers such as Experian or Equifax. Credit reporting websites also allow you to set up alerts to notify you of any changes to your business credit score.
6. Think twice about sharing your information. Be cautious of calls or emails that request sensitive information. Never give out confidential information unless you know it's a trusted and verified source. By using fraudulent messages that appear to come from trustworthy sources, a scammer could try to obtain information to exploit your business. This is called
phishing; it's one of the most significant Internet fraud issues and is often done through email, text message, or phone call.
7. Implement fraud detection tools. Rockland Trust offers a variety of tools that can help to catch fraud before it can impact your bottom line. For example, layering in Positive Pay for check and/or ACH transactions will automatically match your issued payments against those presented for payment. Anything that appears suspicious will be held for review by your team.
8. Report suspicious activity. If you think you're a victim of actual or attempted financial fraud, contact your financial institution as soon as possible. The sooner they are made aware, the better the chances are that your hard-earned funds can be recovered.
Safeguarding your business from fraudulent attacks doesn't have to be a full-time job – at least not for you. Our Treasury Management team can get you started with Positive Pay, as well as review opportunities to improve cash flow, maximize investments, lower costs, and better control your business funds.
If you are a business customer of Rockland Trust and experience suspicious account activity, please contact our Customer Information Center at 508.732.7078 or your dedicated Treasury Management Officer. At Rockland Trust, the security of your assets is our top priority.
You also might be interested in...
