Fraud Detection, Mitigation and Prevention

Secure your confidential financial information

We partner with our clients to detect and prevent fraud. Our strategic approach uses security tools, client education and best practices to help you safeguard your information and systems.

Know how you're protected

BB&T takes a multilayered approach to fighting fraud in partnership with you.

    • BB&T provides the tools for a strategic approach to fraud detection. Whether you're in need of more timely access to account information or you want to transition from checks to electronic or card payment solutions, our specialists will work with you to integrate the fraud-protection components best suited for your business.
    • Account Reconciliation services offer businesses that issue a high volume of checks a more efficient way to handle accounting for and reconciling bank statements and other transactions each month
    • Positive Pay/Payee Positive Pay services compare posted checks to your issued check information to identify any check serial number and dollar amount mismatches. Suspect items are then provided to you for review. Payee Positive Pay screens and matches payee names in addition to the standard check number and amount fields, providing incremental protection.
    • UPIC is a secure way to receive electronic payments from your vendors and suppliers without disclosing your sensitive bank account information. Your bank account number is masked with a UPIC "Virtual account number."
    • ACH Control (ACH Blanket Block & ACH Positive Pay) are features you can use to manage ACH activity that can prevent any ACH debit from posting to an account, limit originators of electronic debits or disposition your rejected debit entries.
    • Reverse Positive Pay allows you to use CashManager OnLine to review your previous day’s posted checks and provide instructions to return any fraudulent checks. Unlike Positive Pay, there's no comparison with your check issue information for checks being cashed at the teller line.
    • Check Block is a service for clients who don't wish to issue checks on a specific deposit account but want an extra layer of protection to prevent check fraud.

Know your liability

We do everything we can to protect your data and help you do the same, but we're not responsible for any loss, claim or damage sustained as a result of the use of your organization's PIN, password or security code, regardless of whether the transaction was authorized.

Cyber theft occurring with the use of valid credentials isn't covered by the bank. Discuss cyber theft with your insurance provider.

Please take the time to review the BB&T Commercial Banking Services Agreement. It includes the following items related to the use of your organization's security code:

  • You agree to indemnify and hold harmless BB&T for any such transaction alleged to be unauthorized
  • You agree to keep any account information, security code, password or other confidential identification number used to access your deposit or credit account(s) secure and strictly confidential, and to not permit disclosure of such information to any unauthorized person
  • You agree to immediately notify BB&T if this information has become known to, or been used by, an unauthorized person. You acknowledge that BB&T has no method to determine whether a transaction conducted with use of a valid account name, account number and security code was proper and therefore authorize BB&T to complete any transaction involving your deposit or credit card(s) made with the use of such information.
  • You agree to be responsible for any transaction initiated with the use of a valid account name, account number and security code or credentials

As we work together, remember that BB&T will never ask for your password over the phone, by email or by text message.

Understand types of fraud

We advise our clients to be especially vigilant to the following types of fraud.

  • Check fraud
    • Look for alterations to legitimate checks, including forged signatures and amounts
    • Beware of counterfeit checks, which can include an exact replica of your logo or a check from a fictitious company
  • Card, ACH and wire transfer fraud
    • Stay on the lookout for charges presented through ACH that have already been checks returned for fraud
    • Watch out for fraudulent requests to initiate ACH payments for consumer charges received via internet or telephone
    • Beware of consumer credit purchases from "Card Not Present" merchants or from merchants not validating the CVV2 number on the card
  • Online fraud
    • Online schemes often attempt to obtain confidential information that includes password, identification information and token code information
    • Malicious software can be installed on your computer without your consent. Once installed, these programs can capture confidential information, keystrokes, initiate fraudulent transactions, redirect your web browser or display fraudulent websites
  • BB&T protects your business accounts from fraud with:
    • 128-Bit SSL encryption
    • Multiple firewalls to shield the network
    • Login security measures, with automatic logout due to inactivity
    • A multilayered security approach to protect your information and assets, including some mandatory alerts
    • Our fraud teams that actively monitor login and transaction activity

Assess your risk

As a user of BB&T products and services, you have a duty to safeguard access to your accounts, account information, signature stamps, security codes, passwords or other confidential identification numbers and information.

We recommend businesses of all sizes establish an online fraud awareness program and conduct regular risk assessments. This would involve the business taking several preventative measures.

  • To initiate funds transfers and payments, use standalone PCs not enabled for social networking functions, such as email or web browsing
  • Implement user entitlements based on your business needs. Maximum payment amount limits should be determined and set by BB&T. Your user entitlements and payment limits should be routinely reviewed.
  • Use alerts or event notifications, which proactively send email notifications when payments are made or changes are made to user entitlements
  • Prohibit the sharing of passwords, require strong passwords with a mix of characters and cases, use a different password for each website accessed and regularly change passwords. Don't store passwords on your computer in case it's compromised.
  • Establish an online fraud awareness program for your employees and conduct regular risk assessments
  • Identify gaps in your internal controls, and address them immediately

Stay safe when using mobile

Follow these tips to protect your confidential information on your mobile devices.

  • Manage your security settings
    • Always use the password or PIN feature on your mobile device. This locks your phone in the event that it's stolen.
    • Never lower your security settings for convenience. This makes it easier for thieves to get into your device.
    • Don't jailbreak or root your device by bypassing important controls and gaining full access to the operating system. It bypasses important security measures and could make your device more vulnerable to malicious software. It may also void the warranty and create security risks.
    • Don't store your PIN and personal data on your mobile devices
    • Don't click suspicious links and attachments. While it may be difficult to spot some phishing attempts, it's important to be cautious about all communications you receive, including those purported to be from "trusted entities," and be careful when clicking on links or attachments contained within those messages. 
    • Back up all of your personal data, such as your contacts, documents and photos so they can be restored if your device is lost or stolen
  • Mind your neighbors
    • Prevent anyone from looking over your shoulder while you're accessing mobile banking
    • Never leave your mobile device idle while your banking session is still active
    • Don't use free public Wi-Fi connections for banking transactions. Use your phone carrier's internet connections for enhanced security.
    • Never respond to any text messages asking you to verify your account information. Criminals may use text messages to "phish" for your personal information.
  • Keep a close eye on the software you install
    • Only download apps from your mobile service provider or mobile device manufacturer's marketplace
    • Be cautious about granting applications access to your personal information or letting the app perform functions on your device. Disable unwanted services and calling features. Capabilities such as Bluetooth and NFC can be convenient using your mobile device; however, they can also provide an easy way for a nearby unauthorized user to gain access to your data. Turn these features off when they're not required.
    • Always install software updates and patches to your device as soon as they're available
    • Install security apps that enable you to find your mobile device and to delete its memory if necessary
    • Install a reputable Mobile Antivirus/security software if available for your device
    • Always wipe data on your old phone before donating, reselling or recycling it

If your device is lost or stolen, you should report it to your wireless provider immediately. They may be able to locate or disable the device. Then call BB&T Online Support at 888-228-6654 to have the device access disabled.

Protect your identity

  1. Don't open suspicious email or links
  2. Reduce your fraud footprint. Keep sensitive financial information out of the regular mail by switching to online statements.

Your business has our full attention

When you're ready to take your business to the next level, we'll be ready to offer a customized strategic plan to meet your needs.

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