Focus on Security

Data Security: Protect Your Business from Fraud

Cyber thieves target businesses through phishing, phone calls, social networks, texting scams and malware. Businesses are always at risk. Peak vulnerabilities can exist just before a holiday, when key employees are on vacation, when a business office is relocating or when new computer equipment is installed. The vast majority of cyber thefts begin with compromising the computers of business account holders.

 Tips to Keep Your Business Safe Online
  • Provide internet and email security training for all employees. 
  • Usernames and passwords should be kept confidential. Passwords should be complex and changed often.
  • Verify computers have updated anti-virus and anti-malware program(s).
  • Remove online user accounts as part of the exit procedure when employees leave the company. 
  • Don't click on links or open attachments in unexpected emails, even from known senders. 
  • Be suspicious of any email asking for personal information including: account numbers, account verification, usernames, passwords, or any personal information. 
  • Log off computers when not in use. Never leave workstations unattended while computers are logged in and vulnerable.
  • Don't use public WiFi or other unsecure network connections to access online services. 
  • Using a computer dedicated for online transactions can limit the possibility of viruses and malware. This dedicated computer should not be used for standard web browsing or have access to email. 

 Tips to Improve Security 
  • Perform an internal business risk assessment that includes the business processes used to initiate financial transactions.
  • Make sure all workstations are using supported operating systems (Windows 7 is no longer supported). 
  • Review account balances and transactions regularly (daily is preferred). Report any suspicious activity to Central Bank immediately.
  • Use Positive Pay, a Business Online Banking service, to help identify check and ACH fraud. 
  • Maintain rotational backup copies of business systems offsite and disconnected from the business network when not in use.
  • Implement mandatory dual control for ACH and wire transactions. When two users are required to process transactions, the frequency of fraudulent transactions decreases substantially.
  • Take advantage of system alerts: balance change, transfers, password change, ACH and Wire. 
  • ACH and Wire transaction limits are valuable safeguards for online accounts. Please review these limits at least annually to make sure they're appropriate.
  • Disable user accounts for employees on extended leave.