Resources for Business

PROTECT YOUR BUSINESS

Review this information to keep yourself and employees safe from financial security threats.

Recent Threats to Business

Criminals in this scam attempt to gain access to a business' finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable.

This scam targets businesses that work with suppliers or perform wire transfer payments on a regular basis. The attacker compromises legitimate business email accounts or impersonates the email accounts of individuals within the organization that regularly approve or handle wires. The goal of the scam is to convince the business or bank employee to conduct a fraudulent funds transfer to a fictitious supplier or business. In addition to funds transfer, the scammer may also attempt to obtain other confidential information such as employee W-2 forms. The FBI has issued a Public Service Announcement for both of these threats and can be read in detail here: https://www.ic3.gov/media/2017/170504.aspx

This form of cyber threat encrypts information on a computer or network of computers rendering the information stored on impacted systems unreadable. Successful attacks are often the result of a phishing email with a malicious link or attachment that is clicked or opened by the email recipient. Victims of ransomware are usually given the opportunity to pay a ransom in order to render the information readable again, but there is no guarantee the criminal will hold up that end of the deal. The other option is to restore data from a good backup. While this threat exists for business and personal computers, business attacks have been increasing due to the likelihood for higher and quicker ransom payments. The FBI has issued more information on this subject in this document https://pdf.ic3.gov/Ransomware_Trifold_e-version.pdf

Business Fraud Services

Treasury Management
Enhance efficiency, strengthen security. With Treasury Management at Peoples Bank, you’ll feel safe knowing we’re always working to keep your business’ operations seamless and secure.

Learn Moreabout Treasury Management

Check Positive Pay:
This allows your company to submit a check issue file or manually enter information regarding the checks you have written. When checks clear your account, they are matched to the check issue information, and you are provided with a list of exceptions that you can decide to pay or return. Exceptions are presented for the following conditions: duplicate check, amount mismatch, stale date, check not found, and check presented against voided items. This will assist in reconciling your account and preventing fraud.
Check Positive Pay with Payee Matching:
As checks hit your account, we will also validate the payee name¹ as part of the issue file. Checks that do not match the issue file are considered "exceptions" and the account holder must decide whether to pay or return the items.
ACH Positive Pay:
Allows your company to reduce the risk of ACH fraud by creating payment rules that limit the ACH transactions being debited from your accounts. When ACH debit transactions clear your account, they are matched to your predefined payment rules and you are provided with a list of exceptions on which you can decide to pay or return the items.
ACH Debit Block:
Allows your company to reduce risks associated with ACH transactions. It is ideal for accounts in which you do not allow any ACH debit activity. Every incoming ACH debit transaction will be returned to the sending bank.

¹Payee name must be typed on check to use this service. Handwritten checks are not accepted with this service.

Fees apply for Treasury Management services.

Have a plan

The National Cyber Security Alliance (NCSA) has translated the NIST Cybersecurity framework to provide a common language for understanding, managing and expressing cybersecurity to help businesses identify and prioritize their cybersecurity actions and manage cyber risk.