Business Banking Fraud: Protecting Our Customers

in General, Your Business

At First Internet Bank, keeping your account and information safe and secure every day is our top priority. We use only the most current, top-rated network technology – like firewalls, encryption and secure sessions – to ensure that every one of your online transactions is protected.

For example, our sophisticated bank software recognizes duplicate serial numbers of checks, similar to a Stop Payment request. It also reviews for check serial numbers that are out of sequence with cleared items. Here are other ways we work to prevent fraud:

Business Online Banking Safeguards

  • Thresholds set for Automated Clearing House (ACH), Wire and Remote Deposit
  • All outgoing payments (ACH, Wire) require dual control, with second approver
  • Multi-factor authentication: password/security token is required to move money from the bank
  • Complex device identification with “one-time” cookie matched against digital fingerprint; characteristics review including PC configuration, Internet Protocol (IP) address, geolocation and other factors
  • Security token password for sending outgoing payments changes every 30 seconds
  • When ACH or Wire is originated, a notification email is sent to the user
  • Email alerts sent for balance fluctuations

Fraud Prevention Services and Tools for Transactions

  • Check Positive Pay – Utilize Internet Banking to review account daily
  • ACH Positive Pay – Debit Block/Filter
  • Reconcile Daily/Monthly (with separation of duties between payment issuer/reconciler)

Computer-based fraud is more prevalent than ever. And in 2021, we’re committed to maintaining a constant vigilance. Our systems are designed to guard against potential malicious activity and provide consistent, uninterrupted service to our customers. In a very real sense, the future of your business – and ours – depends on understanding online enemies and having the effective defenses we provide against them.