As the year draws to a close, businesses are busy wrapping up projects, finalizing budgets, and preparing for the new year. But amid the hustle, one critical task often gets overlooked: fraud prevention.
The end of the year is a prime time for fraudsters to strike, making it essential to review your safeguards before 2026 begins. Here’s your year-end checklist to protect your business from fraud:
1. Implement Positive Pay
Positive Pay should be at the top of your list. This powerful fraud prevention tool helps protect your business from check and ACH fraud by matching transactions against a list of authorized payments. If something doesn’t match, the bank flags it for your review—stopping fraud before it hits your account.
Benefits of Positive Pay:
- Blocks unauthorized checks and ACH debits.
- Reduces financial risk and operational disruption.
- Provides peace of mind during high-volume holiday and year-end transactions.
2. Review Your Internal Controls
Ensure your financial processes are airtight. Segregate duties, require dual approvals for large payments, and audit your systems for vulnerabilities.
3. Monitor Account Activity Daily
Fraud moves fast. Daily account monitoring helps you catch suspicious transactions early and take immediate action.
4. Update Employee Training
Seasonal staff and new hires may not be familiar with your fraud prevention policies. A quick refresher can prevent costly mistakes.
5. Secure Digital Channels
Cybercrime spikes during the holidays. Update passwords, enable multi-factor authentication, and verify your online banking security settings.
Start 2026 with Confidence
Fraud prevention isn’t just a year-end task—it’s a year-round priority. But taking action now can save you headaches later.
Contact Redstone Bank today to learn how Positive Pay can protect your business. Contact us online or visit a local branch to get started.