Security
A Guide for Preventing Business Fraud
If you are a business owner, you know better than most about the increasing risk of loss from fraud — but do you know how to protect yourself, your accounts and your money? At MutualOne Bank, our Client Services and Cash Management teams are here to help provide you and your employees with the resources you need.
If you suspect that there has been fraudulent activity with your MutualOne Bank accounts, call Client Services at (508) 820-4010 during regular business hours.
Improve security for you and your business.
Use this checklist to determine what you can do to improve security for you and your business.
Secure Your Systems
- Install and use anti-virus and malware detection software on every employee computer.
- Ensure operating systems and applications are updated regularly, giving special attention to security patches.
- Require that all sensitive data is stored securely and encrypted.
- Create IT security policies, standards and expectations.
- If you collect personal information, ensure your systems comply with Massachusetts’ standards for the protection of personal information.
Protect Your Passwords
- Require all owners and employees to use complex passwords (a mix of letters, numbers and symbols) which are unique to each website or service.
- When available, opt in to dual authentication.
- Keep passwords secure — do not share or write them down — and consider using a password manager.
Secure Payments
- Implement a system for paying bills that requires two people to review and verify each payment.
- Require that all changes to vendor addresses or bank information be verified directly by calling the number you have on file.
- When possible, opt in to receive and pay invoices electronically via ACH or bill presentment.
- If writing checks by hand, use a gel pen to limit checkwashing fraud.
- If sending checks through the mail, bring them to a local post office rather than leaving them to be picked up from a mailbox.
Educate Yourself & Employees
- Periodically train employees on IT security policies, standards and expectations.
- Regularly share information about ongoing scams or best practices.
Use MutualOne Bank Services
- Regularly review account activity through Online and Mobile Banking to identify any unauthorized activity.
- Receive text or email alerts to keep track of your ongoing account activity.
- Limit access by employees to your accounts, as well as Online & Mobile Banking and other systems.
- When available, opt to receive and pay bills electronically through Online Banking.
- Deposit checks quickly and securely using either Remote Deposit Capture or Mobile Check Deposit.
- Add your MutualOne Bank debit card to your mobile wallet to ensure all transactions are tokenized, protecting your debit card number.
- Sign up for Positive Pay to ensure all check and ACH transactions are authorized and accurate.
Let Mo Keep You In the Know
Use one of the links below for additional resources.