Republic Bank & Trust

Identity Theft - Business

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Risk Assessment 

To mitigate the risks associated with Business Online Banking, including ACH and wire transactions, it is recommended that clients perform a yearly review of controls and risks. Items to consider include:

  • information or functions available through the commercial website
  • the volume of transactions
  • security policies and procedures for access to the corporate accounts
  • security monitoring solutions
  • security layers
  • logical and physical access privileges.

Training should be conducted at least annually for any employees with access to corporate online bank accounts for review policies, procedures, and features.  

Layered Security Measures

We recommend that commercial clients implement a layered security to address risks associated with online banking.

  • Trusteer Rapport is required on every computer that is authorized to access to conduct ACH or wire transactions. Rapport scans for malware on PCs and creates a secure “tunnel” to the website to prevent attacks.
  • Up-to-date antivirus software, as well as software or hardware firewall, are essential to preventing the loss of data through malware attacks like Trojans and viruses.
  • It is essential to keep operating system patches up to date on workstations, servers, and infrastructure appliances, as well as patches for software like Java, Flash, and Silverlight.
  • We suggest the use of our Positive Pay service to ensure that all transactions are legitimate and to help prevent fraudulent activity in the event that checks are lost or stolen.
  • Use a dedicated PC for accessing, which is not used for any other purpose other than financial transactions.
  • Limit the number of employees with logical and physical access to sensitive account information.
  • Request us to set up your users with Dual-Control for ACH and wire transactions, which will result in two employees needing to be involved on the release of funds through these specific networks (Wire & ACH).
  • Notify us if a user needs to be removed from the account entitlement. Never share password and/or IDs.

Commercial Account Takeover

To mitigate the risk of corporate account takeover, commercial clients should consider a combination of the following security measures:

  • Use of a dedicated computer for conducting bank transactions. Internet browsing and e-mail should not be allowed from this workstation.
  • Regular patching of operating systems and software.
  • Current antivirus and host-based firewall software should be installed.
  • Current browser versions should be maintained.
  • Review transactions and do not batch approve transactions.
  • Download and install Trusteer Rapport on any workstations that have been designated to access online accounts.
  • Always send documents that contain sensitive information encrypted. Click here for more info about our secure email.
  • Contact us if you notice that your Business Online Banking system behaves suspiciously (i.e. pages look different, token request is popping up without a reason).

Contact Us

Contact one of our Treasury Management Specialists at 1-866-534-2341.

If you suspect fraudulent activity, have been notified about malware on a computer that is used for bank transactions, or have questions regarding transactions, please contact us immediately.

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