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Fraud Prevention

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Fraud Prevention

Fraud Prevention Solutions for Your Business

In today’s digital age, fraud threats continue to grow for all businesses, regardless of size.

Although writing checks, sharing account details, and making payments are everyday business activities, they can also expose your company to significant risks if not properly protected.

At City National Bank of Florida, we offer comprehensive solutions designed to protect your business from fraud risks.

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Contact a Specialist

Phone: 1-833-448-6500
Monday-Friday
8:00 AM - 6:00 PM ET.

Fraud Protection Services

ACH
Positive Pay

Check
Positive Pay

Account
Blocks & Filters

Our ACH Positive Pay service is designed to provide quick detection and prevention of unauthorized transactions on your accounts. Key features include:

Quick Detection and Prevention

Instantly set up debit filters for each vendor to monitor and review payment amounts, ensuring only authorized transactions are processed.

Internal Control Support

Segregate duties for better administration and maintenance through our secure online platform.

Flexible Notifications

Receive alerts for any unauthorized activity via email, or SMS ensuring you are always informed.

Our Check Positive Pay service offers systematic protection by allowing you to review checks presented on your account against those issued, identifying and reporting discrepancies. Key benefits include:

Systematic Fraud Prevention:

Review and verify checks presented on your account against those issued by you, identifying any discrepancies.

Comprehensive Controls

Use advanced methods to identify exceptions and reduce your exposure to fraud.

Detailed Reporting

Receive early-morning information on user-defined conditions and exceptions to stay ahead of any risks.

To further protect your accounts, our block and filter solutions ensure secure segregation of funds for specific purposes, improving reconciliation and automatically blocking unauthorized attempts to debit funds.

Debit Block and Filtering

The ACH debit block and filtering system helps detect unauthorized ACH debit transactions on business accounts.

Conditions and Authorization

Financial institutions set up conditions based on the preauthorization clients give to specific parties to debit their accounts.

Customizable Protection

Clients can choose to block all ACH debits, credits, or transactions from posting, or block/allow transactions from specific vendors based on their Tax ID or Originator ID.

Real-Life Fraud Scenarios

Fraud can happen to any business, at any time.
‍Here are two common scenarios businesses may face:

Check
Fraud

Check fraud can take many forms, each designed to deceive and exploit your business. To understand a real scenario, review this example.
See Example
A business issues a check for $2,500
‍to a vendor
A fraudster intercepts the check, alters the payee’s name and the amount to $25,000
A fraudster successfully cashes the check.
The business only discovers the fraud after the account has been significantly drained.
Accounts payable team receives an email that appears to be from a trusted vendor requesting to update payment information
The team complies without any further verification
Unknowingly, the team updated the details to the fraudsters account.
The next ACH payment of $50,000 is sent directly to the fraudster
A business issues a check for $2,500
‍to a vendor
A fraudster intercepts the check, alters the payee’s name and the amount to $25,000
A fraudster successfully cashes the check.
The business only discovers the fraud after the account has been significantly drained.
Accounts payable team receives an email that appears to be from a trusted vendor requesting to update payment information
The team complies without any further verification
Unknowingly, the team updated the details to the fraudsters account.
The next ACH payment of $50,000 is sent directly to the fraudster

These examples show how real and significant the risk of fraud can be. With City National Bank of Florida’s fraud protection services, you can safeguard your business and stay ahead of potential threats.

Why Choose Our Fraud Protection Services?

Our fraud prevention solutions offer:

Cost Savings‍

Avoid financial losses from unauthorized transactions.

Control

Enhance your financial controls through real-time monitoring and detailed reporting.

Efficiency

Streamline processes with automated fraud prevention measures, giving you more time to focus on your business.

Get Started Today

Protecting your business and your clients' data is crucial in today’s digital environment. Our fraud protection services offer advanced tools to help detect and prevent potential threats before they cause harm. Contact us today to learn how we can help safeguard your business.

Contact a Specialist

FINANCIAL EDUCATION PROGRAM

Take control of your finances and make your money work for you

The FDIC Money Smart Program is designed to boost your financial skills. You can explore Money Smart resources, as they are available 24/7.

These tools are free of charge and available for all, so remember to share the tools with your family and friends.

Explore The FDIC Money Smart Program

Please note: City National Bank of Florida does not offer tax, legal or accounting advice

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