Fraud Prevention

Protect Yourself & Your Finances

Fraud Monitoring Services

In a recent report published by Small Business Trends, 55% of respondents said they'd experienced a cyberattack within the preceding 12-month period. The cost to a business can be significant; disruption to normal operations due to cyberattacks and data breaches cost businesses an average of $955,429 per incident.

Cybercriminals often target small businesses, assuming they don’t have the resources to have sophisticated data protection systems in place. While this is too often the case, there are steps any business can take to mitigate their risks related to viruses, ransomware, check fraud, ACH fraud and wire fraud.

It’s our job to stay in front of developments related to cybercrime and be advocates for our customers to take the necessary steps to be well protected.

Check Positive Pay & ACH Positive Pay

Check and ACH fraud are just two of the threats that can present a challenge for businesses. Check Positive Pay and ACH Positive Pay from Investors Community Bank offer additional protection for your account, which can provide you with peace of mind.

Check Positive Pay

Check Positive Pay is a web-based check verification service that allows you to review exception items before they’re paid and return checks that you determine may be fraudulent.

How it Works

  1. You will send us a list of daily checks to be issued.
  2. As items are presented to your account, we match them against your submitted file.
  3. Checks on your list are paid. Checks not on your list or checks with discrepancies are marked as exceptions.
  4. You receive an email that lets you know when there is an exception to make a “pay” or “return” decision on.

Benefits of Check Positive Pay

  • The ability to monitor internal controls and detect check fraud
  • Reduced disbursement risk with timely returns
  • Control over whether checks should be voided, paid or returned
  • The option to review a list of outstanding checks at the end of each month
  • Reduced administrative time and processing costs

ACH Positive Pay

ACH Positive Pay helps you protect your funds, allowing only ACH transactions from the parties you authorize, within the dollar limits you authorize, to post to your account.

How it Works

  1. You provide us the names of businesses you authorize to withdraw funds from your account as well as the dollar limits for each.
  2. If there’s an unauthorized withdrawal, the bank will alert you and ask for a “pay” or “return” decision.

Benefits of ACH Positive Pay

  • Consistent monitoring of your account for fraudulent activity, so you can focus on running your business
  • Easy setup of an approved company list and parameters
  • An email to review when unauthorized ACH withdrawals occur
  • A choice to “pay” or “return” unauthorized ACH withdrawals
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