Protecting your business from fraud is more important than ever. From check fraud and ACH scams to account takeovers and data breaches, fraudsters continue to find new ways to target businesses of all sizes.
At Salal Business Services, we’ve shared tips in past newsletters about protecting your accounts through tools like Positive Pay and careful handling of sensitive information. But even with strong safeguards in place, fraud can still happen. If it does, knowing what to do next can help your business respond faster and reduce potential losses.
What to Do Immediately After Discovering Fraud
If you suspect fraudulent activity on your business account, quick action matters. Here are some important first steps to take:
1. Review Suspicious Transactions
Carefully review your recent account activity to identify unauthorized transactions or unusual behavior. Fraud can arise across a wide range of systems and services, including forged or altered checks, ACH fraud (including payroll fraud), debit or credit card fraud, wire fraud, online account takeover, business or personal email compromise, business identity theft, and general data breaches.
2. Contact Salal Right Away
If you notice a fraudulent transaction or event, your next step is to report the fraud to Salal at 206.298.9398 or BusinessServices@SalalCU.org within the timeframe noted in our Business Membership and Account Agreement, which is always available in our Forms and Disclosures Library.
“The sooner that businesses can recognize and inform us of fraudulent activity, the sooner we can attempt to recover funds,” says Rebekah Gomez, Business Banking Representative.
You can also contact your Account Officer, who can help connect you with our Business Services team.
Why Fast Fraud Reporting Matters
Under federal regulations, businesses are not protected from fraudulent transactions in the same way consumer accounts are. That’s why regular account monitoring and timely reporting are so important.
“Failure to report unauthorized transactions timely may limit the amount of time available to recover funds and result in the business member bearing the loss entirely,” says Gracie Kim, Business Banking Support Manager.
While fraud incidents can feel stressful or even embarrassing, fast communication gives your business the best chance to limit disruption and begin recovery efforts.
Secure Your Accounts and Credentials
After reporting fraud, take steps to secure your systems and account access.
Depending on the situation, you may need to:
- Change digital banking passwords
- Review employee account access
- Update login credentials
- Monitor additional payment channels for suspicious activity
If needed, you may also be encouraged to report the fraud to the FBI or Federal Trade Commission.
How Salal Supports Businesses During Fraud Recovery
Once fraud is reported, our Business Services team will work with you to coordinate next steps and discuss available options.
We’ll ask your business to identify a primary contact person who can help manage communication and complete required documentation.
“When members are responsive, we can grant them full access to their account within the same business day, sometimes in just a few hours,” says Rebekah. “However, when responses are delayed, it can cause frustration, particularly when payments are rejected.”
Throughout the process, we’ll stay in touch with you and help coordinate with your Account Officer to reduce interruptions to your business operations.
Debit and Credit Card Fraud Resolution
If the incident involves debit or credit card fraud only, we can help by:
- Blocking compromised cards
- Ordering replacement cards
- Submitting a fraud claim for eligible losses
“Business members should use caution when issuing debit cards to employees for everyday purchases and expenses,” says Gracie. “They should also consider lower POS and signature-based limits to help reduce fraud exposure and losses.”
Your Options for a Compromised Business Account
In some fraud situations, additional steps may be needed to help protect your accounts moving forward.
Depending on the circumstances, your options may include:
- Signing up for Positive Pay Service
- Closing the affected account and opening a new one
- Closing your membership and opening a new membership
Temporary debit restrictions may also be placed on accounts while security updates are being implemented.
Positive Pay for Business Fraud Prevention
Positive Pay is Salal’s fraud mitigation tool that helps businesses verify checks and ACH payments presented against their accounts.
This service can help detect suspicious transactions before funds leave your account and is recommended for businesses of all sizes — whether or not fraud has occurred previously.
Staying Proactive About Fraud Prevention
Fraud prevention is an ongoing process. Regular transaction reviews, strong credential management, employee awareness, and fraud prevention tools can all help reduce risk.
“Data is more exposed than ever, and it’s important to be aware of the types of scams that are occurring,” says Gracie. “When you’re responding to requests for payment, don’t be too quick to act.”
If fraud does happen, you don’t have to navigate it alone. With quick action, clear communication, and the right support, your business can move through the recovery process with greater confidence.
