Small business fraud is on the rise
Unfortunately, during this last unprecedented year or more, fraud has grown for consumers and businesses. There is no one solution, but the right banking partner and the right combination of services can help you create awareness of unexpected account activity, increase account security, and reduce exposure.
Common types of business fraud
- Billing schemes
- Non-delivery of merchandise
- Check fraud
- Non-payment of goods shipped
- Wire transfer schemes
- Financial statement fraud
Ways to prevent fraud
We have identified nine key things every business should be doing to keep fraud at bay. Here are a few of them:
- Keep all software and business technology up to date.
- Enable dual approval abilities and two-factor authentication where possible.
- Train your employees on how to identify fraud and what to do if they suspect fraud has occurred.
We can help!
There are a lot of ways Park Bank can protect your business. We have the tools and services to:
- Fight payment fraud;
- Receive real-time alerts on all account activity;
- Safeguard your information; and
- Monitor debit card activity.
For more on types of business fraud, ways to prevent it, and resources available to help, head over to our blog.