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Fraud Prevention For Your Business

Banking is more convenient than ever! You can bank almost anywhere and anytime from your phone, tablet, or personal computer.

Unfortunately, hackers are taking advantage of this online convenience by targeting businesses and individuals through malware, phishing schemes, social engineering, and business email compromise tactics. Losses attributed to phishing and other fraud have grown from $3.1 billion in 2020 to $8.8 billion in 2022, according to the Federal Trade Commission.

Northwest Bank is committed to protecting your finances and confidential information with several resources for your business.
  • Security alerts: We will send you an email when your personal information has been changed, so you know if a fraudster is trying to change your info and steal your money.
  • Custom online banking alerts: You can configure custom alerts to let you know when certain financial events happen.
  • Wire alerts: Low balance, overdrawn, etc.
  • Balance Reporting service allows for the creation of customized reports and templates where the user can define accounts, format, transaction types, and dates. Customized reporting can improve efficiency in account review and identify fraudulent activity by reviewing transactions.
  • The Report Delivery service lets users generate reports for any of the company services available and adapts reports to customer needs.
Check Positive Pay is a fraud detection tool that provides early detection of fraudulent, altered or counterfeit checks at the point of presentment and prevents them from being paid through daily verification of checks presented for payment against your account.

Benefits include:
  • Reduces the risk of a fraudulent check being cashed against your accounts
  • Allows you to verify a check before it processes against your account
  • Faster check reconciliation
ACH Positive Pay helps protect your business against unauthorized electronic activity. ACH stands for Automated Clearinghouse, which is a network that processes electronic payments.

Benefits include:
  • Reduces risk of potential fraud by allowing you to make pay or no pay decisions on ACH transactions identified as exceptions within Online Banking.
  • Automated emails to notify clients of ACH activity or exceptions that need your attention.
For accounts that you rarely need external ACH transfers, we can set those accounts to automatically reject all ACH requests. If a circumstance arises where you need an ACH transaction, simply call your banker to take the block off of your account temporarily.