Protecting Your Business Bank Account From Hacking Theft

A client of mine dealt with a near hacking theft. Luckily the attempt was unsuccessful. He smartly had the conversation with his bank on what would have occurred anyway. This major bank’s shocking response? Not good. They started backpedaling. Turns out my client would have had to litigate or at the very least have a big delay in being reimbursed. As a small business I knew I didn’t have the resources to litigate against the banks. Turns out It’s up to us to protect ourselves in this situation. Here’s what I did:

1. Purchased a crime insurance policy. The one I purchased cost 1% of the asset base I was protecting. Seemed to be a fair price. 

2. Secured my banking account from theft. I was told to use one computer to access the bank account and not to have it as part of the network. 

3. If possible use a MAC as they are far less susceptible to a trojan horse as most of them are Microsoft based code. 

4. Setup a separate account. If there is a lot of cash in reserve do not transfer online. Do it manually. 

Watch the video below for the full story. Also, make sure to contact us if you’re interested in the specific crime policy that we purchased.