August 26, 2022
Recently, several of our business customers have been impacted by a spike in mail theft, resulting in an increase in check fraud throughout our region.
While it is impossible to eliminate fraud, we suggest some methods that can be utilized to help protect you and your business:
- Have a locked mailbox or a mail service that will pick up and deliver your mail directly inside your organization.
- Set up a lockbox to have your mail delivered directly to a facility that will open and process all incoming payments.
- Setup Check Positive Pay or ACH Debit Block on your business account to stop fraud before it hits your account.
- Contact your vendors to confirm how they protect their incoming mail.
- The bank also suggests businesses consider alternative methods of payment such as ACH or Credit Cards.
- Reducing the number of paper checks written is the best beginning to reducing the chance of fraud.
Please contact TreasuryManagement@fnbmichigan.com with any questions.
Posted in Security Updates