Jeff Taylor, head of commercial fraud forensics at Regions Bank, is a believer in the adage that your gut doesn’t lie: “When it comes to recognizing and preventing business fraud, if something doesn’t look right or if it just doesn’t feel right, trust your gut.”
Some of the most common types of fraud:
- Business email compromise. These typically begin with a phishing email, voicemail or text message that entices the potential victim to engage with a criminal.
- Check fraud. Criminals either create a counterfeit or alter a check that has been intercepted for their benefit.
- Mail fraud. If you put a check in the mail, somewhere between sending it and it being delivered, a criminal intercepts it and uses it dishonestly.
- Unauthorized ACH debit fraud. Criminals send an ACH credit transaction to an account as a test, and if successful, then send one for a larger amount.
Fraud is on the rise, so being proactive about detection while educating employees is key to prevention.
Start today
- Read more: How to protect your business from cybercrime.
- Learn more: Detect and prevent fraud within your organization.
- Take action: Visit regions.com/fraudprevention.
