Mitigate Payments Fraud


Combating Fraud

Here are some potential steps you could consider to mitigate fraud risk in four key areas: paper, electronic, internal controls and online security.


  • Use high-security check stock
  • Securely store check stock and bank statements
  • Implement secure financial document destruction processes



  • Use an online banking channel for treasury management needs
  • Convert paper payments to electronic delivery wherever possible
  • Establish policies regarding use of executive signatures on electronic documents
  • Ensure that secure ID tokens are collected and passwords are changed when an employee leaves the company


Internal Controls

  • Segregate duties such as making payments and reconciling accounts
  • Monitor and reconcile accounts daily
  • Use online statements, reporting and reconcilement services to speed the reconcilement process


Online Security

  • Mask account and tax ID numbers in correspondence
  • Use encrypted e-mail for confidential, non-public information
  • Maintain an awareness of the latest fraud trends such as phishing and malware
  • Use and regularly update anti-virus, anti-spyware, and other Internet security software


To learn more about Chase's payments fraud solutions and how they can help you, please e-mail us or contact your local commercial banker.

Knowledge Is Power

In 2010, organizations increased their use of electronic payments for business-to-business transactions, payroll transactions, and business-to-consumer transactions to help mitigate potential payments fraud risks.

Source: 2011 AFP Payments Fraud and Control Survey