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Business Fraud Center

Fraud targeting businesses is increasing every year. Criminals focus on weak points in payments and communication systems, but the right awareness and tools can stop them. This page is designed to give you a clear overview of today’s top scams and the practical steps you can take to protect your business.

The scams hitting businesses most often

Business Email Compromise (BEC)

Fraudsters impersonate executives, vendors, or attorneys and send “urgent” requests for payment or banking changes.

How it impacts your business:

  • payments redirected to criminals
  • Client trust at risk
  • Recovery is often difficult and time-sensitive

Protect your business:

  • Verify any banking change with a call to a trusted number
  • Enable multi-factor authentication (MFA) on email accounts
  • Train employees to recognize suspicious messages

Bank Impersonation

Scammers spoof a bank’s phone number and claim to be stopping a “suspicious” transaction. They ask for MFA codes, passwords, or other login details.

How it impacts your business:

  • Compromised credentials
  • Unauthorized account access
  • Delays in legitimate transactions

 

Protect your business:

  • Remember: Alerus will never ask for your MFA code or password
  • End suspicious calls immediately and dial our published number
  • Report attempts to your Alerus Treasury Management advisor

Check Fraud

Criminals steal, alter, or counterfeit checks to withdraw funds from your account.

How it impacts your business:

  • Unauthorized checks clear your account
  • Vendor relationships disrupted
  • Reconciliation becomes difficult and time-consuming

Protect your business:

  • Use Positive Pay services
  • Secure check stock and limit access
  • Reconcile accounts frequently

ACH Fraud

Fraudster initiate unauthorized debits or disguise them as trusted vendors.

How it impacts your business:

  • Unexpected withdrawals
  • Cash flow disruptions
  • Time lost resolving disputes

Protect your business:

  • Enroll in ACH Positive Pay to control which vendors can debit your account
  • Review transactions daily
  • Use ACH block services on accounts that should never receive debits

 

How Alerus helps protect your business

  • Positive Pay and Payee Positive Pay
    Stop altered or counterfeit checks before funds leave your account. Best for businesses that issue checks regularly and want to prevent fraud before it hits their account.
  • ACH Positive Pay
    Control which vendors can debit your account and block unauthorized entries. Best for companies with frequent ACH activity who want tighter control over electronic payments.
  • Check and ACH Block
    Automatically reject all transactions on designated accounts to eliminate risk. Best for accounts that should never process checks for ACH debits, such as payroll or reserve accounts.
  • Reverse Positive Pay
    Review checks after presentment so you can quickly return suspicious items. Best for  businesses with lower check volume that prefer reviewing items daily.
Young Female Customer Paying In A Vintage Clothing Shop.

Best practices to reduce risk

  • Use multi-factor authentication (MFA)
    Add an extra layer of security to email and banking logins.
  • Verify payment requests
    Call a known number to confirm any new banking instructions or urgent payments.
  • Separate duties
    Divide responsibilities so no one person can create, approve, and release payments.
  • Train employees regularly
    Provide clear examples of phishing, impersonation, and fraud attempts.
  • Keep backups secure
    Store backups offline or in a secure environment and test them regularly.
Business Team Analyzing Financial Data In Modern Office

What to do if fraud happens

Stop activity right away
Pause the payment, isolate affected accounts or devices, and stop using compromised credentials.

Report the fraud:

 

Remember: Always remain vigilant and proactive in protecting your financial information.

Frequently Asked Questions

 

How can I tell if a payment request is real?

Always verify changes to payment instructions or bank details by calling a trusted number on file. Do not use contact information included in the email.

What is business email compromise (BEC)?

It’s when criminals impersonate executives, vendors, or attorneys through email to trick you into sending money or changing payment details.

Why are small and midsized businesses targeted?

Fraudsters know smaller teams often lack dedicated security staff or layered controls, making it easier to bypass safeguards.

How common is check fraud today?

Very common. Over half of U.S. businesses report attempted or actual check fraud each year, despite digital payments being on the rise.