Highstreet Insurance - Northern Michigan’s Post

As a business owner, credit card theft poses a significant threat to both your finances and your customers’ trust. These tips will prove beneficial to help prevent credit card theft: #CreditCardTheft #PreventCCTheft #BusinessOwners

FRAUD: Most common types of fraud/theft experienced by small businesses: 1) Credit Card Scam 2) Business Email Compromised 3) Employee Theft For more insights, download NSB’s 2024 Small Business Survey at nsbank.com/survey. #nsbank #NSBsurvey #smallbusiness

The banking industry is seeing an increasing number of #fraud attempts on businesses. Check out our newest article, which lists the latest #scammer tactics, and how to protect your business.

🚶 Imagine walking down the street and finding $125k on the sidewalk. Now can you fathom being the person who lost that amount of money? No business should have to face payment fraud, let alone an average loss of $125K. Learn more about our 12-step verification process to limit the risk of invoice fraud: https://bit.ly/4bQDLVf

Invoice fraud is a significant and growing problem for finance departments worldwide, posing a major financial risk to businesses. Middle-market companies are losing an average of $280,000 annually to invoice fraud, according to Forbes research. This alarming figure highlights the seriousness of the issue.

This is a short read with good information.

I highly recomend Positive Pay to protect your Business checking account. Positive Pay is a service that helps prevent check fraud by verifying checks presented for payment against your issued checks list. It's effective for businesses looking to safeguard against altered, fraudulent, or counterfeit checks. As a business banking specialist I can speak on its affordability and effectiveness in fraud prevention.

Why is it important as a business owner to regularly check your bank and credit card statements? Well... I was chatting with a business owner, let's call him Sam. He noticed charges on his credit card he didn't recognize. Sam talked to his employee, Bob, who admitted it was a mistake and apologized. But it happened again. Sam found out Bob had been making multiple fraudulent charges and had to let him go. They had worked together for years, showing that embezzlement can happen even between friends. No matter who handles your books, you should still check your bank and credit card statements. Look over your financial records regularly—at least monthly, but weekly is even better. This helps you spot any issues early and prevent fraud. #financialstatements #check #smallbusinesses #cfoservices #LetsGetFractional

Check fraud has been on the rise recently and has been affecting businesses of all sizes. Learn more about the three most common types and how it can affect your business: https://brev.is/4T05x. Additionally, learn how First Bank can help your business stop check fraud before it happens: https://brev.is/G5YR5. #CheckFraud #BusinessFinances #FraudControl

In CrossFirst Bank's newest article, we go over the latest fraud attempts that are specifically targeting businesses. Make sure you are taking steps to protect your business.