Online Banking Fraud Protection Best Practices

Tips to Protect Online Payments & Account Data

• Take advantage of transaction limits. Establish limits for monetary transactions at multiple levels: per transaction, daily, weekly, or monthly limits.

• When you have completed a transaction, ensure you log off to close the connection with the financial organization's computer.

• Use separate accounts for electronic and paper transactions to simplify monitoring and tracking any discrepancies.

• Reconcile by carefully monitoring account activity and reviewing all transactions initiated by your company on a daily basis. 

Account Transfers

• Use limits provided for monetary transactions at multiple levels: per transaction, daily, weekly, or monthly limits.

• Review historical and audit reports regularly to confirm transaction activity.

• Utilize available alerts for funds transfer activity.

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