Top fraud protection tips for your business

Published on Nov 05, 2021

Top fraud protection tips for your business

Fraud – whether perpetrated via cyber scams, identity theft, chargeback fraud, payment and banking fraud, and more –poses a significant risk to businesses of all sizes. Incidents of fraud skyrocketed during the COVID-19 pandemic, as more and more business transactions took place online, and they continue to grow. According to a Juniper research report, e-commerce retailers alone are at risk of losing over $20 billion in 2021 due to online fraudulent activities, an 18% increase over last year.

Payment and Banking Fraud

Payment and banking fraud is another threat that businesses face, whether in the form of bounced checks, chargeback fraud, unauthorized transactions, stolen credit card numbers, etc.

Some of the ways to help prevent this kind of fraud are:

When the volume of ACH transactions for your business increases, so does the potential for fraudulent activity. Valley’s ACH Positive Pay Service gives you the ability to review all incoming debits before they are cleared for deposit, block specific transactions from being processed, and prevent potentially fraudulent electronic withdrawals or credits posted to your account. With custom filters, you can choose to block suspicious ACH debits and credits until you’ve had a chance to authorize them.

If you think your business has been the victim of fraud, report it immediately at the Federal Trade Commission’s fraud-fighting site at

Cyber Fraud

The theft of digital information via cyber fraud is the most commonly reported fraud against businesses, which is why it’s important to put a solid cybersecurity strategy in place to protect your customers’ information, your business’ reputation and avoid legal issues or financial loss. Here are some key tips recommended by the FCC to safeguard your business against cyberattacks.

Protect your business with ACH Positive Pay

Protect your business with ACH Positive Pay

Valley’s ACH Positive Pay Service lets you submit issue files, view exceptions, make payment decisions, access reporting, and receive important email and text alerts concerning suspected unauthorized check activity.

Learn more