The Everyday Banker

Businesses must be vigilant in protecting themselves against the growing threat of Business Email Compromise (BEC) scams. These attacks have become more sophisticated, with cybercriminals targeting organizations to steal sensitive information or carry out fraudulent transactions. It's crucial for businesses to implement strong security measures and stay informed about potential risks to prevent falling victim to these harmful schemes.

To help protect your business, we recommend following these best practices:

1. Leverage Bank Tools: Utilize ACH Blocks and Filters. Safeguard your accounts by pre-setting parameters and receiving and stopping ACH activity that seems out of the norm.
2. Verify Unexpected Requests: Always verify an unsolicited or unexpected request for funds, sensitive data, or financial transactions by contacting the sender through a trusted method (e.g., phone call or in-person verification), especially if the request involves changes to payment instructions, account details, or a request for an ACH Originator ID to be permanently approved to initiate ACH transactions on your account.
   
   
3. Be Cautious with Email Links and Attachments: Do not click on links or open attachments in emails from unknown or suspicious sources. Cybercriminals often use these to install malware on your devices or steal login credentials.
   
   
4. Use Strong Authentication Methods: Enable multi-factor authentication (MFA) for your email accounts and financial platforms. MFA provides an additional layer of security to protect against unauthorized access.
   
   
5. Educate Your Team: Ensure your employees are aware of common BEC tactics and have been trained on identifying suspicious emails. Encourage them to report any unusual requests or communications immediately.
   
   
6. Regularly Monitor Accounts: Stay vigilant by reviewing your business accounts and transaction history daily for any unauthorized activity. Early detection is imperative to minimize potential damage.
   
   
7. Keep Software Up to Date: Ensure that all systems and software (email, antivirus programs, and operating systems) are regularly updated with the latest security patches to prevent exploitation of known vulnerabilities.
   
   
8. Use Secure Communication Channels: Whenever possible, use encrypted communication tools to share sensitive information, reducing the risk of interception by cybercriminals.
   
   

We take the security of your accounts very seriously and we are committed to helping you protect your business from potential threats. If you have any questions or need further assistance, please don’t hesitate to contact us.

Thank you for your continued trust in State Bank Financial. We appreciate your partnership in keeping your accounts secure.