positive pay - Peoples State Bank

 

fraud prevention



Fraud can happen to any business

A Central Wisconsin company had its computer system compromised. A fraudulent ACH file was initiated to move funds to various bank accounts throughout the United States.

By the time the company discovered the fraud the next day and notified their bank, it was too late. It had been over 24 hours since the file was initiated and there was little that could be done to recover the funds. The company lost over $250,000 due to the fraudulent ACH.

Peoples has fraud prevention tools to prevent fraud from happening to your business.

Peoples’ fraud prevention services provide you the peace of mind to know that the funds in your business accounts are protected from fraudulent activity:

ACH Blocks and Filters
Allows you to set parameters to authorize certain transactions to post to your business account while excluding all others.  

Positive Pay
Transmit an electronic file of business issued checks and Peoples only pays those items that match.

Online and mobile alerts
Set alerts and monitor transactions impacting your accounts from desktop or mobile devices.

DID YOU KNOW?

• Fraudulent ACH transactions must be returned within 24 hours
• Fraudulent checks can be disputed for up to 60 days
• Without fraud protection in place your company may be liable for loss that is the result of fraud.

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