Fraud prevention

In 2016, nearly 3 in 4 companies were targets of payments fraud1 and 58% of companies affected by fraud never recover their losses.2 Bank of the West offers multiple layers of fraud protection to help prevent fraud before it happens and stop fraudsters in their tracks. We can help design a fraud protection solution that’s right for your company.

Help protect your business from fraud with multiple layers of protection.

Security enhancements

As a first line of defense, we recommend internal security enhancements for employees and accounts.

  • Internal security. Suggested measures include initiating employee background checks, mandatory time-away policies, non-compliance consequences, and fraud prevention training for employees.
  • Account information security. Recommendations include physically securing sensitive documents, limiting account number exposure, using check stock with security features and/or eliminating paper (via online statements, Commercial Cards and more).

Validation controls

We offer multiple solutions to help stop attempted payments fraud—on checks, wires, and ACH payments—before it becomes actual fraud.

  • Checks
    • Positive Pay allows only authorized checks to post.
    • WebDirect check print allows entry/upload of check issues for bank to print and mail on your behalf.
  • ACH & Wires
    • ACH blocks and debit filters block all ACH debits and/or credits that are not pre-authorized.
    • ACH Positive Pay allows only authorized ACH debits and/or credits to post.
    • ACH & wire templates control to/from accounts, and optional dual approval to create ACH and/or wire transfer templates.
  • Credit/Debit card. Use Corporate cards / Purchasing cards to pay vendors by credit card and simplify record-keeping through access to the online portal. Increase security with PIN-based chip cards.
  • Behavior monitoring. Back-office fraud detection and monitoring analyzes all outgoing ACH wires transactions, wire transfers and other online banking activity.
  • Dual approval. Assign two or more users to authorize transactions for check Positive Pay, ACH Positive Pay, WebDirect check printing and ACH and wire transactions.

Cost controls

We can help you minimize potential losses by detecting fraud early. Solutions include transaction limits, email alerts, early detection monitoring, and separation of accounts—by purpose, payment type, legal entity, or business/store/office location.

Risk sharing

Protect your business by adding fraud-related riders to your business insurance policy, including riders covering cybercrime, fraudulent bank transfers and employee dishonesty or embezzlement.3

Fraud prevention insights

Get fraud prevention and protection news and insights from David Pollino, our Chief Information Security Officer. David is the author of "Wireless Security" and co-author of several of the "Hacker's Challenge" book series.

David Pollino's Fraud Prevention Insights

Report fraud or suspicious activity by visiting our online Security Center.

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Legal information and Disclosures

12017 Association of Financial Professionals (AFP) “Payments Fraud & Control Survey.”

2Report to the Nations on Occupational Fraud & Abuse. 2016 Global Fraud Study, Association of Certified Examiners (ACFE).

3Bank of the West does not offer this service.

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