How to Protect Your Business

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Preventing ACH Fraud and Online Infiltration

While technology may make your business banking much easier, the correct safeguards need to be in place in order to prevent ACH fraud and other malicious attacks on sensitive business information.

As a business owner, it is important to follow strict security protocols both online and physically at your location and train employees to follow them to the letter. It is also important to note Alpine Bank will never ask you for your passwords.  Here are some tips to shore up your ACH and online security:

  • ACH Alerts- these can be set up in your online banking account to alert you to any ACH or wire activity.
  • Positive Pay- this service from Alpine Bank identifies fraudulent charges by comparing checks presented against your account with the check amounts you’ve issued.
  • Dual Control- have one person initiate payment file creation and another approve the file for release for ACH payments and wire transfers.
  • Anti-virus and firewall software- make sure these items are installed on every computer your business uses, and be sure to check for updates and security patches regularly; avoid free software.
  • Firewall- this is a necessity especially if you have a broadband internet connection, cable or DSL. Make sure it is actively managed and updated regularly.
  • Usernames and passwords- make sure each employee has a unique username and educate them on creating strong passwords and require them to change regularly.
  • Employee education- make sure employees are able to spot phishing attempts online and in their email. Be sure they know not to click on banner ads, pop-ups or download files from unknown sources.
  • Reconcile accounts daily- this ensures a regular review to identify any possible fraudulent charges.
  • Emails- be cautious when receiving emails from any supposed financial institution or government agency requesting personal information, account information, logins, PINs, etc.
  • Stay Informed- each year Alpine Bank holds a Security Seminar for Business Online Banking Users.  View the 2015 Business Security Seminar.
  • What to do if you’re a victim of fraud- If you believe you are a victim of fraud, cease all online activity immediately and unplug all Ethernet or cable modem connections. Contact Alpine Bank immediately so we can begin the process of freezing account access, identifying fraudulent charges, opening new accounts, etc. File a police report with the local police department as this will help in dealing with other financial institutions, insurance companies or other businesses that have been the recipient of fraudulent activity. Also, be sure to write down exactly what happened, when it happened, what was taken, etc.

You can find more about the rules and regulations governing the ACH network hereAlpine Bank also recommends you read our security tips for online and mobile use to increase your protection for yourself and your business.