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Fraud can move quickly, but clear processes and strong habits can help you stay ahead of it. Follow these best practices for business fraud prevention and payment fraud prevention.
Monitor Activity Regularly
The sooner you spot unusual activity, the more you can limit its impact.
- Review your accounts frequently
- Look for unexpected transactions or changes.
- Set up alerts to get notified of unusual activity so you can act quickly.
Strengthen Payment Security
Payment workflows are a common target for fraud.
- Use secure, trusted payment methods
- Avoid storing sensitive card data unnecessarily
- Confirm any payment changes independently
Pause before processing payments that feel unusual.
Use Strong Authentication
Protect access to your systems and financial tools.
- Require unique logins for employees>
- Enable multi-factor authentication across platforms
- Limit access to only what’s necessary
Train Your Team
Your people are one of your strongest defenses.
- Teach employees to recognize phishing and impersonation attempts
- Establish a clear process for verifying requests
- Encourage a “pause and confirm” mindset
Secure Devices and Systems
Keep your infrastructure protected.
- Keep systems and software updated
- Use secure networks when accessing financial data
- Monitor vendor access and system integrations
Protect Your Physical and Digital Assets
Fraud isn’t always digital.
- Store cards, checks, and documents securely
- Monitor access to payment systems
- Act quickly if something is lost or missing
Act Quickly If Something Feels Off
Speed matters, but so does clarity. If you notice unusual activity:
- Stop using affected systems or payment methods
- Review accounts and credentials
- Contact UFCU immediately
Stay in Control
Fraud prevention isn’t about reacting. It’s about building habits that reduce risk over time.
- Pause before acting.
- Verify before processing.
- Protect what you’ve built.
Visit the Security Center for step-by-step guidance when something doesn’t feel right.