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Fraud Protection

 

Employee fraud causes billions of dollars in business losses each year. According to the Association of Certified Fraud Examiners (ACFE) 2016 Global Fraud Study, the median loss for U.S. businesses affected by internal fraud was $120,000. Unfortunately, the risk of employee fraud is especially high for smaller businesses, the ACFE found. This is because small businesses […]

Imagine discovering you and your business are under investigation for money laundering or tax evasion – all because you made frequent cash deposits to your bank account. Small businesses, such as retailers, restaurants, and beauty salons, often receive much of their income in cash, requiring their owners to make frequent bank deposits.   While receiving […]

During tax season, electronically preparing and filing tax returns may make businesses more vulnerable to cybercrime. Tax-related scams are one of the most common types of fraud committed against businesses and individuals. Cybercriminals are constantly devising new ways to steal sensitive financial information in order to commit tax identity theft and other crimes.   Fortunately, […]

Tax identity theft is a growing risk for American businesses. This form of identity theft happens when thieves steal a business’ Employer Identification Number (EIN) and other tax information so they can submit a fraudulent tax return and claim tax benefits on behalf of their victim. Thieves may also use a business’ EIN to file […]

Internet fraud has become an inescapable feature of the business landscape. An email scam known as “phishing” is one of the most dangerous forms of fraud and can be a big threat to your business. When scammers portray themselves as legitimate companies to get you to reveal personal or secure business information, they are “phishing.” […]

You’ve likely heard about many of the internet scams affecting businesses throughout the world. This article will shine a light on one all-too-prevalent type of business email compromise, a scam known as phishing.   What Is Phishing? “Phishing” refers to a scam in which a fraudster (the “phisher”) sends email messages that appear to be […]

Occupational fraud, also known as employee theft, is when an employee misuses or misapplies the resources or assets of a business for their own personal gain. Many fraud cases go undetected, while others are discovered accidentally or reported by a whistleblower. Here are the facts you should know about occupational fraud.   Know the Financial […]

Employee fraud – especially when it goes undetected – can be extremely detrimental to your small business. Companies with fewer than 100 employees can experience the same median loss as a company with more than 10,000 employees. It’s important to be aware of employee behaviors that could compromise your business and to implement effective fraud […]

Your small business is twice as likely to become a victim of an employee fraud scheme as a larger company. This is generally due to inadequacies in prevention and detection. The longer fraudulent behavior goes undetected, the more damage it can inflict on your business with the average length being 18 months, according to the […]

Business identity theft is a big threat to small businesses. Nearly 1 in 3 small and midsized businesses have been the target of business identity theft, according to a 2014 survey conducted by CSID, an identity theft protection company. Criminals can pose as legitimate members of your business by locating and using your business license, […]