Imposter Fraud | Citizens State Bank

Protect Your Company From Imposter Fraud

Imposter fraud happens when a fraudster poses as a person or entity you may know and trust, such as an executive or your company, a vendor, or even the IRS.

The imposter may contact you by phone, email, or mail, and they submit an invoice or request a payment or change to vendor payment instructions.

If you give them the information, any payments you send go to the imposter instead of where you intended.

Guidelines For a Strong Fraud Protection Program

Verify your vendor's account number changesRequire all changes to vendor payment account numbers to be made in writing on the vendor’s letterhead and verified with a call to the vendor’s telephone number in your files. You should always verify before you initiate and before you approve.
Educate your employeesRemind your employees not to click on links purporting to be antivirus or anti-malware software. Do not upload files from unknown sources or respond to any on-screen pop-ups, especially ones asking you to enter your contact information.Ignore pop-ups seeking your Online Banking credentials, and be cautious of unexpected token prompts or unsolicited calls to assist you with unreported log-in issues.
Protect your access credentialsNever give out your password, PIN, or the PIN + token code combination. If you receive an email, call, or text claiming to be from a financial institution that needs this information, it is likely a phishing attempt.Do not respond to it. Report it to your financial institution immediately.
Strengthen your internal controlsImplement dual custody on all online payment services (ACH, wire transfer, foreign exchange, etc.) and administration services. Update antivirus and antispyware software and firewalls regularly.

To report fraud, immediately contact your relationship manager.