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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.
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.
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.
For additional information, contact Providence Bank & Trust. You can also visit the following websites to learn more about how to protect your small business:
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
Enhanced Online Security Protection with Trusteer Rapport – Commercial Customer
Important Disclaimer Information:
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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.