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Fraud Education

While we are always working to keep your business information safe and secure, you can help protect your business by learning how to spot, report, and prevent scams.

Common Scams

Business Email Compromise (BEC)

A sophisticated phishing scheme in which criminals compromise authentic business emails and use them to send fraudulent requests. Using these fake messages, they trick recipients into revealing company information or completing money transfers directly to the scammer. As a reminder, Phishing is a scam that sends fake emails or phone calls that appear legitimate.  

  • Verify requests before taking any form of action. No matter how convincing the message is, do not release information or transfer money unless you have confirmed the sender and request are legitimate.
  • Understand the red flags of phishing, and make sure that you and your employees are educated on how to spot them. Urgency, secrecy, and inaccuracies are tell-tale signs that messages might be a scam.
  • Put up preventative measures for employees such as dual-factor authentication, restrictions on unknown domains, and conduct frequent fraud recognition exercises.
Check Fraud

Paper checks contain personal information that is vital for maintaining the financial security of your business. Businesses are particularly vulnerable to stolen, washed, and forged checks.

  • A simple way to avoid check fraud is to write fewer checks. There are many electronic methods to transfer money that are tailored to businesses and are more secure than sending paper checks.
  • Be careful how you store and dispose of checks; they contain vital information. Make sure your check stock is safely concealed and only available to trusted employees.
  • If you are sending or receiving a check, check your accounts frequently. If the amount is altered, or fails to be drawn/deposited, contact Kitsap Bank immediately.
ACH Fraud

This is the unauthorized transfers of funds between accounts. An unfortunately easy way for fraudsters to obtain your money, fraudsters only require your account number and routing number to commit ACH Fraud.

  • Check your accounts daily. Checking your accounts and your transactions as frequently as possible is a helpful habit, because the sooner you spot a fraudulent transaction, the more likely it can be resolved.
  • Educate yourself and your employees on how to spot suspicious messages and activity.
  • Use secure payment methods and make sure devices are equipped with malware prevention software.
  • Set up account limits, blocks, or filters to control who has access, how much can be transferred, and who can approve the transfers.

This is when malware is installed on your computer, often as a result of falling victim to a phishing scheme. Once installed, malware can shut down your files and accounts until you agree to pay a set amount to the scammer. If you’re under a ransomware attack, contact law enforcement to report the incident and receive help.

  • Don’t be fooled by phishing! Do not click on any links or attachments from suspicious message until you have confirmed that the sender and their origins are legitimate.
  • Keep your software and browsers up-to-date, as well as any security preventative programs.
  • There are many informational resources and exercises available to businesses to strengthen preventative behaviors. If a ransomware attack does happen, providing employees with a business continuity plan may bring your business back to operations in a more timely manner.

To learn more about these scams and how to protect your business, visit the FTC webpage.

What To Do If You Are A Victim Of Fraud

If your business has been a victim of identity theft, fraud, or a scam, please contact Kitsap Bank immediately. It is imperative that you reach out at the first sign of fraud, because the sooner you report suspected fraud, the more likely it is that any lost funds and information can be recovered. 

Tools Kitsap Bank Offers To Help Your Business Against Fraud

Online Business Banking

Quick and easy access to your accounts anytime, anywhere. Learn how to set up alerts so you always know what’s happening in your accounts.
Learn More

Cash Management

Fast and easy access to your account information. Utilize the Positive Pay feature; a powerful fraud prevention tool.
Learn More

Merchant Services

Our Commercial Payments Advisors are experts in identifying the right solutions to help you streamline your payables process. Take control of your payments while speeding up your processes and reducing fraud.
Learn More