Fraud Prevention

Fraud Prevention

Don't be a victim — plan ahead.


Fraud is real. Fraud is expensive. Fraud is dangerous. That’s why, at Bank Mutual, we provide our customers with valuable information and a selection of products designed to mitigate fraud loss.

CHECK FRAUD PREVENTION

Protect your company from altered, fraudulent, and counterfeit check fraud with Bank Mutual's Positive Pay—a secure, automated check-matching service through Business Online Banking.

  • When your company issues checks, you upload a list of issued checks to Bank Mutual.

  • Positive Pay compares checks received to the account numbers, check numbers, and dollar amounts to the list you provide. All three components must match or the item becomes an “exception.”

  • You may review all exceptions and choose to pay or reject them through Business Online Banking.

  • Any rejected checks will be returned unpaid, mitigating fraud loss.

  • A sign-on security token is issued to control access to this service.

ACH FRAUD PREVENTION

Blocks and filters allow your company to control electronic transactions on your accounts. Without ACH blocks or filters in place, all ACH requests received by Bank Mutual will be transacted on your company’s accounts. NACHA (National Automated Clearing House Association) rules specify that if an unauthorized ACH transaction occurs, you must notify the bank to stop the transaction within one business day.

  • ACH blocks prevent all ACH debits and/or credits.

  • ACH filters allow your company to set criteria that authorize certain ACH debit and/or credits while rejecting others. Once your company chooses those criteria, any transaction presented that is not authorized will be returned to the originator.

IF YOU BELIEVE YOU ARE THE VICTIM OF AN ONLINE FRAUD SCAM:

Commercial Fraud Articles