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Payment Security Awareness

Follow the tips below to secure your payments:

  • Always use dual control when processing payment entries: One individual to initiate the entry and a second individual to approve the entry.
  • Set reasonable limits for all users based off your normal payment volumes.
  • Monitor the audit report’s available in Ca$hTrac to identify any unauthorized Wire Payments or ACH Payments activity.  
  • Reconcile your accounts daily to identify any unauthorized activity.
  • Pay only approved checks with Positive Pay. Positive pay is the leading method of check fraud deterrence available today. The positive pay process entails a daily reconcilement of a company's issued checks to checks presented for payment to your bank to identify potentially fraudulent checks.
  • An ACH Filter automatically stops all ACH debits, except those you specifically preauthorize, from positing to your account.  The ACH Filter or Block can help you avoid the costly possibility of overlooking a transaction and losing your right of return through the ACH network.

Best Practices to Safeguard Your Business PDF

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