Best Practice to Prevent Financial Fraud

Here is an important best practice to help prevent financial fraud.

If you receive a request—via email, phone, or any other method—from an employee asking to change their direct deposit details or banking information, please do not process the change immediately. Instead, we strongly recommend that you pause and contact the employee directly using a known phone number or in-person verification to confirm that the request is legitimate.

Unfortunately, impostors continue to target payroll administrators by impersonating employees and submitting false banking information in an attempt to redirect funds. A quick phone call or face-to-face check can go a long way in protecting both your employees and your organization from potential losses.

Submitted by:  Frank Plum, President
                             Workplace HCM