Fraud Prevention Summary
According to the Hiscox Embezzlement Study, Municipalities/Government sectors were the second largest targets of fraud at 12.4% of reported cases with a median loss of over $68,000. We offer the tools to help protect your accounts against fraudulent attacks such as:
• Customized Account Reconciliation – Hand-balanced, complete reconciliation of
payroll and vendor accounts that sync back to your bank statement – provides a
variety of reporting, including a check paid file which can be customized to import
into any software (online versions only)
• Check Positive Pay – Compare your issued checks against checks presented for
payment, and flag any differences for review
• ACH Positive Pay aka ACH Block – Block all electronic ACH debits and credits
except authorized entries
• Online Banking – Ability to review accounts daily as part of your internal
reconciliation process and set up automated balance, history and transaction alerts
• Wire Notifications – Opt into email alerts of all outgoing and incoming wires to
select accounts directly from our Wire Room
