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The Latest Scam Targeting Businesses | Part 3

Jim Smith,

August 03, 2018

Managing Your Money


Even the most tech-savvy employees can fall victim to the sophisticated efforts of today’s fraudsters, especially if a fraudster has gotten access to your company’s or one of your vendor’s email system. Equipped with the information in an inbox, they can create communications that seem legitimate. If you or one of your employees has fallen victim, we have tips to help you stop the fraud from continuing. You can catch up on Part 1 here and Part 2 here.

What if I suspect fraud on my account?

Contact Union Bank immediately at 402.323.1828 and we will begin investigating. We have a team dedicated to researching financial crimes. They are here for our customers. The sooner you call us, the faster we can put additional controls in place. We will walk you through the following steps:

  • Reviewing all online access and changing user credentials.
  • Review your dual control.
  • Review your exposure limits.
  • Review our additional fraud prevention tools such as ACH Filter and Positive Pay.

There are other steps you should consider taking to help prevent this type of fraud in the future. You may want to do an internal IT security review especially if the request came from a spoofed email from within your company. If there are other systems you use outside of banking, you should review the access to these systems as well and consider changing the credentials. And finally, if your customers’ information was compromised, you may need to contact them to let them know.

How can I learn more?

Join us for our annual half-day fraud Seminar in 3rd Quarter. Respond to our Facebook event to be notified when registration opens.

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This blog article is for informational purposes only, and is not an advertisement for a product or service. The accuracy and completeness is not guaranteed and does not constitute legal or tax advice. Please consult with your own tax, legal, and financial advisors.