Protect Your Business from Scams

• Be cautious of urgent or unexpected payment requests.
• Independently verify new or changed payment instructions.
• Use Dual Control for ACH and wire transactions.
• Protect security tokens, codes and online banking credentials.
• Monitor accounts and act quickly if something seems suspicious.

Be cautious of unexpected requests involving money, account information or changes to payment instructions, especially when a request:

• Creates an unusual sense of urgency.
• Asks you to change a vendor’s account or payment information.
• Requests a wire or ACH payment based solely on an email.
• Appears to come from an executive, employee or vendor but seems unusual.
• Instructs you to move money to a “safe,” “secure” or “protected” account.

United’s fraud-prevention guidance recommends independently verifying wire and ACH requests using a previously established phone number rather than relying solely on information provided by email. 

Make fraud prevention part of your everyday business practices:

• Verify before you pay. Independently confirm new payment instructions and changes to existing instructions with the person or business involved.
• Pause when something seems unusual. Urgent requests or last-minute changes deserve additional scrutiny.
• Use Dual Control. United Bank conducts ACH and wire transactions through Business Edge under Dual Control, meaning one user initiates the transaction and a second user approves and transmits it. 
• Protect transaction authentication. United authenticates ACH and wire submissions through Business Edge using a one-time security code sent by phone or text message. Businesses can use security tokens for an extra layer of security. Never provide the codes sent to these devices with anyone, even if they claim to be from the Bank. United Bank will never ask for a security code sent to your device. If someone asks for your security code, hang up and call your branch immediately. Businesses that wish to use security tokens can contact United Bank Treasury Management Operations.
• Use fraud-prevention tools. Business Edge offers anti-fraud alerts, and Positive Pay and ACH Positive Pay are available as optional services. 
• Educate your employees. Regular training can help employees recognize suspicious requests and know when to stop and verify before taking action. United’s fraud guidance specifically recommends cybersecurity awareness training for businesses. 
• Monitor your accounts. Review account activity regularly and investigate unfamiliar transactions promptly.

If you believe your business has been targeted or funds have been sent as part of a scam, contact United Bank immediately. United’s fraud guidance also recommends reporting applicable incidents to the FBI’s Internet Crime Complaint Center (IC3) and local law enforcement. 

Stay alert. Verify before you act. A few extra moments of caution can help protect your business, your employees and your financial information.

Stay alert, slow down and verify. Strong internal controls, including Dual Control and secure authentication for ACH and wire transactions, can help your business reduce its risk of fraud.