Secure Online Banking

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Fraud Prevention for Your Business

Do Your Part. Be Cybersmart.

Learn how to keep your business protected from cyber crimes. Watch short videos and find tips and resources on how to stay safe and Cybersmart online!

 

Protecting Personal Information: A Guide for Business

Learn the 5 key principles of a sound data security plan from this helpful Federal Trade Commission resource.

Keeping Your Business Safe

It is more important than ever to protect yourself and your business from scammers who try to obtain and misuse your confidential data through fraudulent phishing (email), vishing (phone call) and smishing (text) communications. As your Bank, we are here to help guide and support you in understanding what these hackers are doing and what you can do about it. We have taken steps to empower you with tips, tools, examples and knowledge that we will share on an ongoing basis via email, social media and this page to help you in responsibly safeguarding your accounts and data, as well as be aware of the most current scams.

Your security has been and always will be a top priority. Together we can effectively fight fraud.

Enable Positive Pay on your Account(s)

Reduce the risk of check fraud with Providence Bank & Trust Positive Pay1

Check Positive Pay – Reduce the risk of check fraud with Providence Bank & Trust Positive Pay.  With this service, you submit an electronic file each day detailing the checks your business issues.  As each check is presented for payment, the Positive Pay system electronically compares it to the information in your file.  Any discrepancies are flagged and reported through a special email alert and can be viewed through our online cash management where you can see an image of the checks and make an online “pay/no pay” decision.

ACH Positive Pay – Reduce the risk of ACH fraud with the Providence Bank & Trust ACH Block Positive Pay. With this service, you will provide the list of pre-approved companies that can debit your account. As ACH Debits are presented for payment, ACH Positive Pay compares the debits again your approved list. If the debits are from approved companies they will automatically be paid. If an ACH is pending that is not on your pre-approved list, we will email you to alert you to decision the item for approval to pay it or it will get returned.

Learn More

 

IBM Trusteer Rapport

Protect your accounts against online fraud with the added security of Trusteer Rapport. Available for both personal and commercial accounts.

Enhanced Online Security Protection with Trusteer Rapport – Personal Customer

Click here to download

Enhanced Online Security Protection with Trusteer Rapport – Commercial Customer

Click here to download

5 Ways to Protect Your Small Business from Account Fraud

Corporate account takeover is a type of fraud where thieves gain access to a business’ finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable. Providence Bank & Trust recommends following these tips to keep your small business safe.

  1. Educate your employees. You and your employees are the first line of defense against corporate account takeover. A strong security program paired with employee education about the warning signs, safe practices, and responses to a suspected takeover are essential to protecting your company and customers.
  2. Protect your online environment. It is important to protect your cyber environment just as you would your cash and physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated virus protections on your computer. Use complex passwords and change them periodically.
  3. Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that safeguard you from unauthorized transactions. Positive Pay and other services offer call backs, device authentication, multi-person approval processes and batch limits help protect you from fraud.
  4. Pay attention to suspicious activity and react quickly. Look out for unexplained account or network activity, pop ups, and suspicious emails. If detected, immediately contact your financial institution, stop all online activity and remove any systems that may have been compromised. Keep records of what happened.
  5. Understand your responsibilities and liabilities. The account agreement with your bank will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about your responsibilities.

For additional information, contact Providence Bank & Trust. You can also visit the following websites to learn more about how to protect your small business:

Federal Communications Commission: Small Biz Cyber Planner

 


Important Disclaimer Information:

All trademarks and registered marks are the properties of their respective owners.

1 Positive Pay is a fee-based service, and although not required, it is highly recommended. Providence Bank & Trust does not provide fraud insurance or cover losses in the event of fraud.