Recommended Security Controls for Businesses
Businesses can help prevent fraud by implementing these controls:
- Use quality checks from reputable printers. The check stock and MICR encoding carry essential information used to protect your account.
- Secure your checkbook supplies, including facsimile signature stamps.
- Shred checks and statements you no longer need.
- Notify your Private Banker immediately of any changes to signing authorities on your account.
- Conduct background checks of employees involved in issuing checks or reconciling checking accounts.
- Institute dual internal controls over your check issuing and reconciliation processes. The employee reconciling the account should not be a signer on the account.