Fraud Prevention Best Practices

Business Online Banking provides several controls and tools to help protect you against unauthorized transactions. We recommend that you use these controls along with your company’s own tools and resources to mitigate the risk of fraud.

General Business Online Banking Controls

• Use a computer that is dedicated to Business Online Banking with no other internet browsing or email access.
• Reconcile account transactions daily.
• Require dual controls for Wire and ACH transaction approval.
• Require users to confirm last sign on date on the Business Online Banking “Welcome” page.
• Do not use account numbers when setting up nicknames for accounts.
• View your alerts and notify the Bank if you do not recognize the activity.

Wire and ACH Initiation

• Limit user access to payment creation and approval functionality.
• Segregate duties between payment creation and approval.
• Require secondary approval of payments on separate computer.
• Establish transaction limits for each user.
• Contact us to set up daily account/user limits for transactions.
• Review your Wire and ACH history daily.
• Call to verify any change to payment instructions received by email or fax.

Business Online Banking Bill Pay

• Setup overall transaction limits and daily limits with us.
• Require secondary approval of payments on separate computer.
• Limit the number of users with approval authority.
• Review your bill payment history daily.
• Enable Business Online Banking alerts for bill payments.

Remote Deposit Capture

• Store processed checks in a secure, locked location requiring dual control for 60 days.
• Securely destroy/shred checks after the required 60 day retention period.
• Frank or mark checks as deposited after scanning.
• Establish internal controls to prevent double presentment.
• Require dual controls with segregation of duties.
• Have a contingency plan for depositing items at a bank location should the system be unavailable for any reason.
• Endorse all checks either through virtual endorsement or manually.

Positive Pay

• Segregate duties from those that issue checks, submit checks into Positive Pay, and decision exceptions.
• Monitor and reconcile accounts daily.
• Manage check stock orders and storage.

General Best Practices

• Do not use your online banking PC(s) for any internet browsing other than Business Online Banking.
• Disable the end user’s administrative rights to their computers to minimize introduction of viruses, malware, etc.
• Keep virus protection and operating systems up-to-date.
• Never open or respond to an email from an unknown source.
• Never log in to Business Online Banking at a public or unsecured computer.
• Educate employees on the risks of online banking.
• Work with your internal partners (e.g. IT, Audit) on other ways to mitigate risks.
• Ask us about Positive Pay and ACH Debit Blocker to help prevent fraudulent transactions on your account.

If you experience difficulty logging in, suspect unusual activity, or encounter any other issues, immediately contact the Treasury Management team at 833.875.2492 or email treasurymanagement@gbankmo.com.