Watch our video to learn best practices to protect your company against payment fraud.
Contact Your SouthState Banker for More Tips on Preventing Payments Fraud.
- Train All Employees to Recognize Social Engineering Tactics and Red Flags
- Test Your Employees Knowledge of How to Respond to Phishing Attacks
- Define Card Spending Limits by Employee Level to Correspond with Responsibility
- Create an Oversight Function of Card Usage as a Deterrent to Internal Fraud
- Reconcile Accounts Daily to Identify Unauthorized ACH Debits and Return Timely
- Use Positve Pay Services on Checks and ACH for Proactive Alerts for Suspect Items
- Verify the Authenticity of a Wire Request Using an Alternate Method
- Implement Dual Control for Initiating and Releasing Wire Transfers
- Fine Tune Fraud Alerts to Include Sale Date and Maximum Dollar Notifications
- Migrate to Electronic Payments or Use Check Warning Bands to Deter Fraudsters