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Pandemic Causing Rise in Business Fraud

Don’t be a Target- Know the Signs of Fraud Targeting Businesses

Not only have fraudsters been targeting individuals throughout the pandemic they have also been targeting businesses. We would like to share the specific tactics we have seen fraudsters use to target businesses.

Email Scams

This fraud happens when employers receive an email from an employee asking them to change their direct deposit.  The fraudster is trying to catch you off guard while you are working different hours or working from home, so that you change the direct deposit without contacting the employee to confirm the change.  Another email scam we have been seeing is vendor related. While working with a vendor you will receive an email asking to change the payment address, wire information, or amount for the payment. They again are trying to catch you off guard so that you will send the payment without double checking with the vendor. We encourage you to pick up the phone and make the call to confirm any changes to direct deposits, or payment information.

Deposit Scams

This fraud happens when a deposit is sent to the bank and deposited into the customers’ business account. The customer will then receive an urgent, sometimes threatening phone call asking them to send the money back to the fraudster.  They will claim that it was an overpayment, oversite, or error that it was sent to you. The fraudster is trying to get you to do this before the check comes back fraudulent. It is important when you have deposits into your account, that you are not sending things back out before you verify that everything is ok.

Unemployment Claim Scam

This fraud happens when a fraudulent *ACH debit is originated to your account for an employee that never worked for you. The Fraudster is trying again to catch you off guard and hoping that you will not notice.  It is very important that you look at every detail of the credits and debits going in and out of your account.

Here at NebraskaLand National Bank, we take protecting your business and account information very seriously. We are committed to providing you with the tools, tips and resources you need to keep your information safe and secure. Visit our Online Security Centerfor the latest news and resources.

 

 

We make it easy to monitor all your business accounts on our secure website with Online Business Banking. (https://nebraskalandbank.com/Business/Online-Business-Banking-Solutions#Business-Online-Banking) You have the ability to monitor transactions and account balances in real time and you can access a detailed transaction history for every account.

Don’t worry, if you’re on the go, you can even access your accounts from the convenience of your mobile phone with the NebraskaLand Business app. Visit us online or call us for more information. We appreciate the opportunity to serve you.

*ACH: Automated Clearing House is a network that coordinates electronic payments and automated money transfers for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments and is a way to more money between banks without using paper checks, wire transfers, credit card networks or cash.

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