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There Are New Reasons to Take a Fresh Look at Your Business Fraud Solutions

There’s never been a better time to have us review your business banking fraud prevention program because frankly, there’s never been more ways to get scammed.

In the tumultuous first two quarters of 2020, many Maine businesses closed their doors and sent employees home—some to work remotely and others to apply for enhanced unemployment benefits. Workers turned kitchen tables into productive home offices. Restaurants signed up with online delivery services. Video conferences filled calendars, and contracts were signed, loans closed, and checks authorized with a few clicks.

Mainers did everything they could to keep our economy going—and almost overnight, they started doing almost all of it online.

At Machias Savings Bank, we see resourceful Mainers facing a crisis with a strong, can-do spirit. But we know scammers see something entirely different: incredible, new opportunities for ACH fraud, check fraud, identity theft, phishing, and other forms of online fraud.

In Maine alone, thousands of fraudulent unemployment claims have flooded state systems in waves that processors are still working to verify and cancel. The federal government has sent out repeated warnings of sophisticated phishing and malware app attacks generated to look like legitimate financial or emergency communications.

“It takes just one employee clicking on a fraudulent email in their work account to put your whole business at risk,” warns Christine Bishop, Vice President of Cash Management. “Our dedicated cash management specialists want all Maine businesses to take a moment and review their fraud prevention services. If you have questions or concerns, talk to us.”

You don’t need to be an MSB customer to talk about fraud detection and prevention with a cash management specialist.

For a free, 15-minute review of your current fraud protection level, risk assessment, and our recommended safety precautions, call 866.773.9394 today!

No matter what you were doing to detect business bank fraud before COVID-19 changed the way we work, it is probably not enough for the way we all work now.

You have insured your business, your employees, your vehicles, and your life. Why wouldn’t you insure your money? That’s exactly what fraud protection is. Insurance.

Yes, a lot has changed. Yes, this is the new normal. And yes, an increased risk of fraud is part of that new normal. Fortunately, so is increased protection from Machias Savings. =

Call us today.

You just might sleep better tonight. 886.773.9394