Enterprise Bank & Trust
Check Fraud Prevention

8 Steps to Help Prevent Small Business Fraud

August 25, 2016

Financial fraud has become an increasingly common threat for many small businesses. How pervasive is the crime? According to the Association of Certified Fraud Examiners, the typical small business loses 5% of annual revenues to fraud.1

Yet, many small businesses overlook basic best practices to help prevent the crime before it happens. Remember, hackers never stop working to find vulnerable victims. So it’s up to owners and managers to stay vigilant and to teach all employees how to prevent fraud.

When it comes to online fraud, Business News Daily states small businesses are attractive to cybercriminals.2 The balances in personal accounts often are too small for criminals to take the risk. Big businesses, on the other hand, have tight security. That makes small business the perfect target; especially given many small businesses are too busy to give fraud the attention it needs.

Fortunately, there are safeguards every small business can take. Putting a plan in place to ensure all employees follow the rules is a simple measure that can be initiated immediately.

Prevent online banking fraud by following these eight steps:


Implement dual control and Out-of-Band on all online payment transactions, ACH, Wires, etc. Dual control requires a second level of approval to release online payment transactions. Enterprise Bank & Trust utilizes ‘Out-of-Band’ for authorization/verification purpose. Out-of-band means authenticating via another channel such as a phone call. Removing the authentication process to a secondary device makes it more difficult for fraudsters to access the system.


Train your employees to never give out their online banking credentials (User Names, Passwords, etc.).


Never respond to an email, phone call or text message requesting you urgently need to update information, activate an account or verify your identity by calling a phone number or via a website. Report these phishing attempts to your account officer or email report@enterprisebank.com


Perform regular system scans ensuring your anti-virus, anti-spyware software and firewalls are up-to-date. Ensure that the programs are always running and perform regular system scans to detect potential security threats.


Always use trusted websites. Access your Enterprise Bank & Trust accounts and services via our trusted web addresses or mobile application available on the iTunes app Store or Google Play Store. Always sign on to your accounts using the appropriate web address given to you by your account officer or support personnel. Never click on a link in a random email or text message.


Protect your internal network. Set up internal controls to protect your network and password encrypt your wireless access. Set up guest WiFi accounts to protect access to critical systems.


Be aware when conducting business or accessing your system in public environments to not disclose your device credentials and security settings.


Utilize standalone PCs for accessing your online bank systems to help limit fraud risks.


Partner with Your Bank in Fraud Prevention

Your security is paramount to us. Here at Enterprise Trust & Bank, we provide easy-to-use online banking platforms, giving clients easy access to items such as:

  • Balance reporting
  • Detailed transaction history
  • Check images
  • Copies of prior statements


    In addition, other features of our online banking platform include:

  • Secure Socket Layer (SSL) with multiple levels of access
  • ‘Out-of-Band’ Authorization and/or Verifications
  • Mobile platform with account balances and transactional activity
  • Wire and ACH transactions via a mobile device
  • Detailed alerts on account activity
  • Company supervisor controls user access


    Taking the steps to prevent fraud is critical for any small business’ success. The subject of online fraud can’t afford to be ignored. However, small businesses are not alone. For additional information regarding online fraud prevention, contact your Enterprise Bank representative and review these articles:

    Business Owner’s Guide to Check Fraud Prevention

    Business Owner’s Guide to ACH Fraud Prevention


    1Association of Certified Fraud Examiners (ACFE)

    2Business News Daily: Cybersecurity: A Small Business Guide



    Note:  Enterprise Bank & Trust is not responsible for the content managed on third party sites.