KSB Bank Smart - Business Protection Fraud Webinar

Thank you for joining us!

At Kennebec Savings Bank, protecting your business is part of our commitment to your success. That’s why we created a free virtual event, KSB Bank Smart: Business Fraud Protection Webinar, designed to help you stay ahead of today’s most common fraud threats.
 
Below you’ll find the full recording, presentation slides, details on our Positive Pay services, and answers to questions asked during the event.

About the Webinar

Fraud continues to evolve, targeting businesses of all sizes with increasingly sophisticated tactics. During this session, our experts explored the most common types of business fraud, including check, ACH, and wire fraud, and shared practical steps to strengthen your defenses.

Participants learned how to spot red flags, establish internal controls, and leverage tools like Positive Pay to prevent unauthorized transactions. The discussion also covered real-world examples of scams affecting Maine businesses and the proactive measures that can help reduce risk.

Whether you’re overseeing day-to-day operations or managing your company’s finances, this webinar offers actionable guidance to help you protect your business, your employees, and your customers from fraud.



Webinar Recording

Missed the live session, or want to revisit the key takeaways? Watch the full webinar below:
 




































Questions & Answers from the Webinar

Is it possible to get the alerts if you only have view access?

Yes! From Online Banking, navigate to Tools & Services and select Alerts. 
You can enable a variety of alerts for any account that you have access 
to see. Alerts can be delivered via text, email or both per your 
preferences. Note that alerts are not currently “real time” but will 
execute at specific times throughout the day.

What can I do to help reduce the risk of email compromise at my business?

The most significant way you can prevent email compromise scams at 
your business is to put strong internal procedures and controls in place 
at your organization. For example, if a vendor sends new or revised
payment instructions to your staff via email, they should always perform 
a callback to a person they know at the vendor to confirm the 
instructions verbally. That is a great way to double check for accuracy 
and deter fraud attempts. Also, having an internal dual control solution 
in place to make sure that it can never be up to just one person to 
receive the instructions, make the changes, and send the payment.
Were there two people who could ask each other questions like, “How 
did you get these instructions? Where did you get these instructions? 
Have you confirmed them?” In short, preventing business email 
compromise really comes down to internal controls and procedures at 
your organization, and educating staff on the risks.

Is there a fee for the Positive Pay service?

The fee is $25 per month per account per service. If you have both 
Check and ACH assist within Positive Pay, it would be $50.00 per
month.

Do the ACH transactions I initiate / send also show up on the list to approve in 
Positive Pay, or only the ones that are initiated by others?
 
If you are an ACH originator and you initiate a payment to somebody 
else, it does not need to be reviewed in Positive Pay. The service shows 
you ACH debits that are initiated by other originators, such as service 
providers like utility companies. Positive Pay shows items someone else 
is originating outside of Kennebec Savings Bank that debit your 
account. 

Is Positive Pay only for debits or does it also allow us to review credits?

Most commonly, scammers will commit fraud by sending you debits,
but that isn’t to say that credit fraud can't happen, or that you wouldn’t 
want to review credits as well. For that reason, we also offer Positive Pay 
for ACH credits if that's something that you're interested in. Also of note
- Positive Pay works for both domestic and international ACH 
transactions.



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