Financial Fraud is an ever-evolving market as scammers continue to create new ways to deceive persons. Stay on top of new fraud trends and tips to help you avoid becoming a victim.
Merchants Commercial Bank has a host of products, services, and best practices that can help you detect and
SecurLOCK is an easy-to-use application that lets you control and monitor your debit card usage anywhere
and anytime using your mobile phone. SecurLOCK allows you to receive real-time transaction alerts, set
transaction spending limits, select locations, and merchants where your card can be used, authorize domestic
and international transactions, and activate and deactivate your card with ease.
SecurLOCK puts the power to protect your card in your hands. The best part of the app is that Merchants
Commercial Bank’s customers enjoy this product for FREE. To find out more about SecurLOCK please
contact one of our client care representatives at (340) 779-2265 option 1 or 2.
Stay ahead of your account by signing up for Merchants Commercial Bank’s eAlerts. eAlerts will allow
clients to receive real-time text or email alerts for loan payment due dates, low balance alerts, deposits,
withdrawals, and much more. To find out more about eAlerts, please contact one of our client care
representatives at (340) 779-2265 option 1 or 2.
Positive Pay is an automated fraud detection solution we offer your business. Positive Pay uses digital
confirmation to determine whether a check should be paid or flagged for non-payment. Positive Pay joins a
host of other fraud prevention products offered by Merchants Commercial Bank. Some features offered by
Positive Pay include:
- Automate check reconciliation
- Easily reconcile your payroll
- Simplify your accounts payable process
- Improve audit control
- Improve accuracy of deposit balancing
- Reduce reimbursement risk
- Streamline check storage and retrieval
- Save your business both time and money
- Monitor account activity regularly for irregular transactions and report discrepancies to your
financial institution immediately.
- Be mindful when shopping online and look for signs of illegitimate websites. Spelling or
grammatical errors, missing contact information, and suspicious URLs or email addresses are
all red flags.
- Read the fine print when purchasing items online. If prompted, do not save credit and debit
card information on the merchant's website or app.
- Use Wi-Fi judiciously. Limit the type of business conducted over open public Wi-Fi
connections, including logging in to key accounts like banking.
- Manage social media settings and minimize information sharing. Just a few data points can
create a pathway for exploitation by cybercriminals.
- Back up intellectual property and other digital information and store it safely so that in the
unfortunate event of a ransomware or other cyberattack, you have a way to retrieve the data.
- Use unique passphrases as passwords and differentiate them across multiple platforms.
Length trumps complexity. A strong passphrase is at least 12 characters long.
- Do a system check. Purge unused apps and outdated or sensitive information stored in old files
and emails and ensure all software on internet-connected devices is current.
- Be mindful when wiring funds. We recommend that you confirm all wiring instructions by
calling a phone number known to be that of the beneficiary before initiating the wire.
- Be Diligent. Merchants Commercial Bank will never ask you to provide confidential
information (your account number, SSN, name, address, password, etc.) in emails or text
- Play it safe. If you think an email, text, or call might be a scam, play it safe by contacting a
member of the client care team at (340) 779-2265, option 1 or 2.