If check fraud is negatively impacting your bottom line, you’re not alone. Check fraud continues to be the No. 1 type of payments fraud, with losses in the millions of dollars.
In a recent survey, companies reported an increase in check fraud.* In 2016, 75 percent of those surveyed that were victims of payment fraud attempts/attacks experienced check fraud — up from 71 percent in 2015. To minimize the financial and legal impact of check fraud on your business, consider adding another level of security using Positive Pay.
How It Works
You send us a list of checks your company issues each day. Checks requested for payment are verified against the list — we’ll only pay checks that are listed. We’ll also notify you of any unauthorized checks, including stale checks and checks that appear to be forged or altered in any way.
Seaside National Bank & Trust takes check fraud seriously. Contact your Client Advisor today to learn more about Positive Pay and our suite of business services.
*Source: Association for Financial Professionals.