Security & Fraud Prevention Business Health Checklist

Check the health of your business.

Utilize this checklist to confirm practices you already have in place and identify areas for further improvement:

Download the Checklist PDF

If you suspect your business has become a victim of fraud, call 781-444-2100 as soon as possible.

  • Online Banking tools are used to make electronic payments, requiring two people to make any changes.
  • Requests to change vendor addresses and/or bank information of vendors and other payees are verified directly with the phone numbers that you have on file for those vendors (do not accept changes via email or fax and do not call the phone number listed in the email or fax).
  • Checks used for payments are brought directly into local post offices (not left in mailboxes to be picked up).
  • Passwords are required to access company systems, and they must be complex and unique to each employee (capital letters, lowercase letters, symbols, numbers).
  • Passwords are required to be changed periodically and they are kept private and secure.
  • Two or more verification factors are required to gain access to online sites, accounts, and other company resources (“mulitfactor authentication”).
  • Anti-virus software and malware detection are installed on every computer and updated periodically.
  • Emails are electronically pre-screened for potentially fraudulent attachments and links.
  • Operating systems are periodically updated when vendors send updates or “patches” to fix security vulnerabilities.
  • Employees are periodically trained on your IT security policies, standards, or expectations.
  • The accounting department specifically reviews your IT security policies, standards, or expectations, as well as this health check.
  • Information Security Programs are in place and comply with Massachusetts regulations. Visit Mass.gov to learn more.

Protect Yourself Using Our Services

Needham Bank understands the need to protect employee, business, and financial information—that’s why we offer many products and services to secure your business from fraud.

  • Use NB Business Online & Mobile Banking to monitor your account activity in real-time and ensure all transactions posted are authorized and accurate.
  • Set up account alerts to keep tabs on your account activity and receive notifications when things don’t seem right.
  • Establish permissions and restrictions to control which employees have access to your accounts. Restrict access by user and by account.
  • Use our secure online Bill Pay to receive business bills electronically so you know what is due and when without having to shuffle through a pile of papers.
  • Take advantage of remote deposit capture to deposit checks. You can use a scanner and ensure your deposits never leave the confines of your business.em
  • Implement Positive Pay to match information from checks presented for payment to a list of checks authorized and issued by your company.
  • Consider ACH Positive Pay to manage ACH debits and credits by determining the electronic payments you have previously authorized to clear.

Learn about Fraud Prevention

Fraud Prevention for Business

Safeguard your business by proactively reducing the risk or fraud.

Learn About Fraud Prevention for Business

Tips to Protect Your Accounts

Protect your business and financial information.

Read Tips to Protect Your Accounts

Frequently Asked Questions

Read our Knowledge Center article “Identity Theft: What to do if you have been a victim of fraud”.

A compromised card is when your debit card account number was stored in a merchant’s file which may have been exposed to potential compromise. When these situations arise, Needham Bank may issue you a new card with a new card number, for your protection.

Needham Bank recommends that you shop with merchants you know and trust. Making sure any internet purchase or shopping cart is secured with encryption to protect your account information. Look for secure transaction symbols such as a lock symbol in the lower right-hand corner of your web browser, or “https://…” in the address bar of the website. Once you've completed your purchase, log off from any website after a purchase transaction is made with your credit or debit card. If you cannot log off, shut down your browser to prevent unauthorized access to your account information. If you want the most secure option, Needham Bank offers MasterCard® SecureCode Internet Personal Identification Numbers on all NB Debit MasterCard®.

When selecting a PIN or password, we recommend that you do not use a number or word that appears in your wallet, or any easily identifiable personal information, such as name, birth date or phone number or other information that could be easily accessible on social media.

Yes, we may ask for your card number. NO, we will NEVER ask for your Pin number. 

Always keep your NB Debit MasterCard® in a safe and secure place. Treat it as you would cash or checks. Contact Needham Bank immediately at 1-833-337-6075 if your card is lost or stolen, or if you suspect unauthorized use.

You can also manage your debit card with NB MY Cards. Read More 

Phishing is an attempt to gain access to your account by tricking you into providing your personal information. These attempts are often made by automated phone call or e-mail message stating that you are being contacted on behalf of your bank. No legitimate financial institution would ever ask you to provide your personal identification codes. If you receive such requests, do not provide the information and please report the contact to your bank immediately. Needham Bank does not employ any automated calling services, and our customer service representatives will have any financial and personal information they need to identify you, and help you with your account.