Alarm systems, video surveillance, anti-virus software, malware software, passwords stronger than Fort Knox, chips in credit cards… Most of us use some or all of these security features (and more) on a daily basis. Thieves are always looking for ways to make a quick buck.
Are you doing everything you can to protect your business as well? Are you still handing out live paychecks? If so, your bank account information is still vulnerable.
I want to tell you about a scam that has happened to several of our clients who pay their employees with live checks. Thieves are recreating paychecks. They use all the right information for the company: name, address, bank account information and valid signature. The ‘Payable to’ is a non-employee, most times they are being cashed at the businesses’ bank instead of being deposited. Then the businesses are out several thousands of dollars until the bank can file a claim with the FDIC. Then you have to close your current bank account and open a new one. And that’s just the beginning of what needs to be done. One more headache you don’t need.
By switching your payroll from live checks to direct deposit, you reduce the exposure of your banking information. I’m not here trying to sell you another service, but I do want to make sure I’m passing valuable information along to businesses so that they can protect themselves.
Any employee hired after January 2010, can be required to have their pay checks direct deposited into a bank account or onto a prepaid debit card.
If you do want to take another step to protect your business and would like to sign up for direct deposit, give us a call. ... See MoreSee Less