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Protect your cash from fraud.

All it takes is a clever scammer and a few moments of inattention, and tens of thousands of your company’s hard-earned dollars could be gone forever. It’s very hard to get the most out of your working capital if someone is stealing it from you, and no organization is immune to the threat of fraud. Unfortunately, many businesses don’t prioritize fraud protection until they themselves become victims of fraud. Don’t wait until your home is robbed to start locking your doors.

Midsize businesses, especially, make tempting targets for fraudsters and scammers because they have significantly more assets than a small business, but often lack the security of larger businesses. But regardless of the size of your business, theft can be perpetrated internally or by outsiders.

Employee theft is most common

Employee theft is a problem for all businesses, occurring almost 15 times as often as theft from an external source, according to the U.S. Chamber of Commerce.

  • The median fraud loss in a midsize company is $140,000 per year, with some 20 percent of victim businesses losing $1 million or more, all from employee theft.
  • Approximately 30 percent of all business failures are caused by employee theft or embezzlement.
  • Of the businesses that survive fraud, nearly half are unable to recover any of their losses.

External schemes tend to be for higher dollar amounts

While internal theft is more common, it is much more likely to come in smaller dollar amounts. However, external fraud schemes are also a grave and growing threat to businesses and include:

  • ACH Fraud: Unfortunately, ACH fraud is easy to execute, requiring just two pieces of information — an account number and a routing number. This information may be gathered through phishing, with malware, or simply from a check that the fraudster has obtained.
  • Business Email Compromise (BEC): This increasingly common scheme occurs when an attacker places himself in the middle of business email communications, poses as a trusted colleague, and sends a bogus message to another employee requesting the wiring of funds.
  • Check Fraud: Between forgery, counterfeiting, check washing and new techniques enabled by advancing
    technology, check fraud is an all-too-common criminal act that can be carried out by employees and outsiders alike.
  • Ransomware: Several large-scale schemes have involved the use of this type of malicious software that blocks your access to your data until a ransom is paid.
  • Wire Fraud: Confidential information is often exposed through phishing or social engineering, and is then
    used to gain access to electronically transfer money from your accounts. Corporate account takeovers can also occur when log-in information is captured through malware that allows fraudsters to log key strokes.

To protect your business, it is imperative that you take preventive measures through use of technology and procedures. You and your bank share responsibility in fraud protection. The experts at Texas Capital Bank can help you identify where you’re vulnerable and work with you and your team to onboard new practices and processes to make sure your capital remains your capital.

Review your policies and procedures using our fraud protection checklist.



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Texas Capital Bank will not be responsible for any consequence of reliance upon any opinion or statement contained herein nor for any omission. Neither Texas Capital Bank, nor any of its employees provide tax or legal advice to outside entities.