Mitigate Fraud & Risk
Explore solutions to protect your business by minimizing potential fraud and risk.
ACH positive pay
With ACH Positive Pay, your business may reduce the risk of unauthorized ACH activity from your business accounts.
We compare each pending ACH debit to an approved transaction list. If the item doesn’t match the approved criteria, it’s flagged within your business online banking account for an authorized user to review and decide which items to pay and which to return.
- Simple, cost-effective program to help protect your company against losses from ACH fraud
- Review and decision ACH Positive Pay items through the TCF Bank Business mobile app.
Develop strong internal safeguards and controls
- Monitor accounts daily through online banking to detect suspicious activity and report any fraudulent or unauthorized transactions to Business Client Services, 855-336-9460, Monday - Friday, 8 a.m to 6 p.m. ET
- Reconcile bank statements immediately when received
- Separate check writing and reconcilement functions to ensure segregation of duties
- If checks are utilized for payroll, consider maintaining a separate account for payroll. These check types are at the highest risk for attempted fraud.
- Convert as many outgoing payments as possible to an electronic method (ACH or corporate card)
- Keep check stock protected
- Conduct periodic unannounced audits to account for all check stock and electronic payment systems
- Educate employees on best practices
- Have a strong HR policy against personal activity on business IT systems, especially personal email and interactive social media sites
- Complete background checks on all staff with access to company accounts and financials
- Consider Cyber Insurance and Social Engineering Riders for your company’s business insurance
- Audit your internal processes quarterly to ensure all employees are following the company’s protocols
Utilize system controls
- Use check stock with fraud prevention security features such as VOID, watermark, tamper-evident check stock, etc.
- Enroll in Check and ACH Positive Pay
- Utilize dual control (separate transaction origination and approval responsibilities)
- Operate a stand-alone PC for banking activity and payment origination
- Employ comprehensive IT security systems, including firewalls, anti-virus and anti-malware software and keep all IT systems up to date
- Enroll in and monitor email/text alerts and confirmations available through the bank