Resource Center Blog Fraud Protection & Account Security Take Control of Your Account Security

Take Control of Your Account Security

Fraud Protection & Account Security | August 17, 2023

According to the Federal Trade Commission, consumers reportedly lost 8.8 billion dollars collectively to scams and fraud in 2022 . All forms of communication including emails, text messages, voice calls, and letters can be methods scammers use to trick people. While this can be overwhelming, there are a few easy things you can do to protect yourself.

  1. Ensure that your contact information is updated in your digital banking profile. In the event of suspected fraud, we can contact you in a timely manner. Update it by logging into your digital banking account, clicking your account name in the top right corner, selecting the ‘Contact Information’ option in the drop-down menu, and updating any blank or outdated information.

  2. Enable account alerts to notify you when a transaction occurs or if a transaction fits certain criteria that you have determined. When you have enabled those alerts, make sure to review them as close to real-time as possible to validate the transactions. Below this list, please find a quick video to walk you through this short process.

  3. We recommend all business checking accountholders enroll in our new anti-fraud service, Positive Pay, which helps alert business owners to potential ACH and check fraud. Using Positive Pay is simple. First, you will set it up with a list of verified payees. Then, you will receive daily email alerts prompting you to confirm if transactions match your records. Positive Pay allows you to flag fraudulent transactions quickly and even report inconsistencies, like check numbers, dollar amounts, and payees back to you. Get enrolled today by calling our product support team at 636-940-5555.

  4. Being aware of common scamming methods can better prepare you to spot and report potential fraud early.

Enable account alerts for enhanced security

Common Scamming Methods

Common Scamming Methods

Method
Emails
Tips to Avoid
Fraudsters will send legitimate-looking emails to trick you into calling, visiting a fake website, or downloading malware. Never click a link or download an attachment from someone you don’t know.
Method
Phone Calls
Tips to Avoid
Scammers will try to pressure you into sending money or revealing personal information. Be wary of unexpected phone calls or texts.
Method
Checks
Tips to Avoid
Someone may ask you to cash a check as a favor. Never cash a check for someone you don’t know.
Method
Online Payments
Tips to Avoid
Someone may ask you to pay debts with cryptocurrency, gift cards, or prepaid debit cards. It’s safe to assume that it’s fraud.
Method
Cash Transfers
Tips to Avoid
Review online banking accounts like CashApp, PayPal, or Zelle® on a regular basis. Report transactions you don’t recognize immediately. Scammers may skim a few cents to test the account before taking a large sum of money.
Common Scamming Methods
MethodTips to Avoid
EmailsFraudsters will send legitimate-looking emails to trick you into calling, visiting a fake website, or downloading malware. Never click a link or download an attachment from someone you don’t know.
Phone CallsScammers will try to pressure you into sending money or revealing personal information. Be wary of unexpected phone calls or texts.
ChecksSomeone may ask you to cash a check as a favor. Never cash a check for someone you don’t know.
Online PaymentsSomeone may ask you to pay debts with cryptocurrency, gift cards, or prepaid debit cards. It’s safe to assume that it’s fraud.
Cash TransfersReview online banking accounts like CashApp, PayPal, or Zelle® on a regular basis. Report transactions you don’t recognize immediately. Scammers may skim a few cents to test the account before taking a large sum of money.

More Articles From: Fraud Protection & Account Security