Commercial Customer Business Protection

Practical steps to protect your business, accounts, and payment activity.

1. Understand How Fraudsters Operate

Fraudsters often manipulate people by using:

• Authority and trust, including impersonating executives, vendors, banks, or government agencies.
• Fear and urgency, creating pressure to act before the request can be verified.
• Familiarity and relationships, exploiting personal or business connections.

Criminals typically spend a good deal of time  researching and preparing a targeted attack against businesses…including yours.

2. Be Alert to Impersonation and Social Engineering

Fraudsters frequently impersonate trusted organizations and individuals. In banking-related scams, they may pretend to be:

• FirstBank fraud, security or branch personnel.
• Online banking support representatives.
• Government officials or law enforcement.
• Executives, employees, vendors, or business partners requesting payments or account changes.

Treat unexpected requests involving money movement, account access, credentials, or sensitive information with extreme caution.

3. Verify Requests Through a Trusted Source Before Taking Action

Independent verification is one of the most effective ways to prevent fraud. If you receive a suspicious communication or are unsure whether a request is legitimate, stop and verify before taking action.

• Confirm payment instructions using a known FirstBank phone number or established contact method.
• Independently verify requests to change account information, wire/ACH instructions, or vendor payment details.
• Contact FirstBank using phone numbers or contact information published on official bank materials or FirstBank’s website.
• Do not rely solely on information contained in an email, text message, voice message, link, or phone number provided in a suspicious message.
• Do not use email alone to initiate, approve, or modify banking transactions or account access.

4. Educate Employees and Decision Makers

Provide regular fraud awareness training to anyone who can:

• Approve account signers.
• Add, modify or remove online banking users.
• Initiate, approve, or release payments.
• Access company banking systems or sensitive financial information.

Training should address current fraud schemes, warning signs, verification procedures, and incident reporting expectations.

5. Establish Strong Internal Controls

Internal controls reduce the risk that one compromised employee, account, or device can cause a loss.

• Require dual control for payment approvals and user administration.
• Separate duties so no single employee controls an entire transaction process.
• Require independent review of high-risk or unusual transactions.
• Use documented procedures for account, user, and payment changes.

6. Use a Layered Security Approach

No single solution can eliminate fraud risk. Combine people, processes, and technology through:

• Ongoing employee education and fraud awareness.
• Cybersecurity monitoring and protection for every device used to access company or banking systems.
• Multi-factor authentication, which requires two or more forms of verification.
• FirstBank online banking platform controls, including dual-control approval workflows.
• Unique passwords and credentials for every account and application. Never reuse banking credentials.

7. Reduce Check Fraud Exposure

Paper checks remain a significant target because criminals may steal, alter, or counterfeit them.

• Limit mailed checks whenever possible.
• Use FirstBank ACH or wire transfer services when appropriate.
• Add Positive Pay with Payee Match to your fraud prevention controls.
• Secure check stock and closely monitor check activity.

8. Monitor Accounts Daily and Report Quickly

Early detection is critical.

• Review bank accounts and transaction activity every day.
• Investigate unusual activity immediately.
• Report unauthorized access, transactions, login attempts, or other suspicious activity to FirstBank as soon as possible.

Minutes matter when responding to a fraud event.

9. Connect with Cybersecurity and Infrastructure Security Agency (CISA)

Basic cybersecurity is critical to your business, and CISA is a great place to start.

• Learn about everything from business resilience to ransomware and cyberfraud schemes.
• Review CISA’s free cybersecurity services and tools here: No-Cost Cybersecurity Services & Tools | CISA.
• Lear more about CISA here: Home Page | CISA.

10. Consider a Cyber Insurance Plan

Cyber insurance may help offset certain financial losses associated with cyber incidents, fraud events, and business disruption. Work with a qualified insurance professional to evaluate coverage appropriate for your organization’s size, industry, and risk profile and take advantage of any cybersecurity assessments offered by your carrier.

Maintain an Active Partnership with FirstBank

Fraud prevention is a shared responsibility. FirstBank monitors emerging fraud trends and offers tools, services, and educational resources to help commercial customers strengthen their defenses and protect their businesses.

Key Takeaway

Pause before acting. Verify through a trusted channel. Use strong controls. Monitor accounts daily. Build resilience through CISA and cyber insurance. Report suspicious activity immediately.