Grasshopper utilizes many tools to ensure that your money and personal data remain secure. This includes two-factor authentication, fraud monitoring, bank-level encryption, and security. Not only do we have multiple layers of security, but also Innovator Business Checking is FDIC-insured, meaning that your account is federally protected against bank failure or theft.
Your information is already very safe on our end, but to further protect your business against fraud and scams, here’s what you can do on your end:
Educate your employees
The best way to protect your business and your customers is to have informed employees. Implementing an employee training program to educate your team about the warning signs of fraud is an essential first step in keeping your business and financial data secure.
Create strong passwords
Many people believe that the best strong passwords are ones that are a long list of random letters and numbers since those are the hardest to guess. However, they are also the hardest to remember, which means many people store them insecurely. The best way to create a long password is to make them more memorable by using a combination of words, letters or special characters that are unique to you.
It’s also important to use different passwords for financial accounts and change them regularly. If a hacker were to successfully obtain your password, changing it will prevent continued access to your account.
Update software regularly
Oftentimes, hackers utilize flaws in outdated computer systems to hijack accounts. The best way to prevent this is by keeping your operating systems, browsers, and anti-virus software up to date.
The same goes for your mobile devices. By enabling automatic updates on your device, you can reduce the likelihood of fraudulent activity by eliminating potential security breaches in your operating system or app software.
Know how to recognize suspicious activity
Suspicious links are the most common way that hackers attempt to trick individuals into giving up their data. Make sure you always investigate links before clicking on them, even if you believe they’re coming from a trusted source.
Hackers may also call you and ask for your bank account information. Never share your information over the phone. The only way a bank will ask for your information is through a secure messaging system.
Report fraud immediately
Grasshopper’s fraud monitoring team works hard to spot any suspicious activity on your account. If you happen to spot fraudulent activity on your own, report it immediately. The quicker fraud is spotted, the quicker it can be shut down.
By Michaela Lenahan in Business Checking