How do businesses become victims of check fraud and ACH Fraud?
Check Fraud is difficult to fight due to the wide exposure of an issued check. A check is handled by different individuals throughout its lifecycle, including those who:
- Have access to check stock
- Print checks
- Transport checks
- Ship and deliver mail
- Process and sort mail once it is delivered
- Make deposits
- Apply payments to the appropriate account
- Can access check images online.
If a check is stolen, it can be altered, used to print new checks, sold, or imaged and shared online.
Fraudsters can also use the information on a check to create an authorized ACH transfer!
Positive Pay is a fraud protection service that gives businesses more control over the checks and ACH transactions that are authorized for payment. It compares the checks you have preauthorized with the checks that are presented for payment and notifies you of any exceptions. It also allows you to control which companies are authorized to debit or credit your accounts via ACH.
Visit the tabs below to learn more about Positive Pay for checks and ACH.
Debit Card Controls
Protect your debit card through SecurLock app by creating alerts and restrictions based on your location, the transaction type, and more. You can even turn your card on and off if you lose it (and back if you find it!)