Protect your payments: Employee best practices

Transcript: Protect your payments: Employee best practices

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When it comes to cybercrime, no company is immune.
But, the more prepared and vigilant your employees, the stronger your protection from fraudsters.

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Protect your payments
 
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Use these recommendations to help strengthen your security and engage your team.
 
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Best practice:
Set up strong controls
 
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Start by making strong security mandatory across your platforms.

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Use unique passwords
 
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Require a unique password to access each company system and third-party portal.

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Require two-factor authentication
 
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Set up two-factor authentication to verify users.

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Best practice:
Recognize phishing
 
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Next, teach all employees to recognize phishing.
 
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Phish-ing
 /’fiSHiNG/
Noun
using deceptive tactics to trick users into revealing personal or confidential information for illicit use

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Criminals now use sophisticated emails, text messages, and phone calls to try and trick employees into making bogus payments, providing bank account details, sharing their login credentials, or other sensitive personal data.

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Your refund is added directly to your account. View balance below
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Be wary of any communication that’s “outside the norm” — especially messages with urgent language or unusual links.

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Best practice:
Use mobile devices safely
 
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Be sure to help protect your team’s cell phones and tablets.
Turn on biometric identification.
Avoid sending company files and sensitive information by text message or through unauthorized apps.

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Best practice:
Stay up-to-date
 
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Make sure company devices use the latest operating systems and antivirus programs.
 
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Update now
 
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Criminals actively target those devices that fall behind on their protections.
 
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Best practice:
Share wisely

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Encourage your team to be mindful when posting on social media.
Even minor details can help fraudsters to impersonate trusted employees and suppliers.
 
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Manage privacy settings

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Review the privacy settings on your accounts and choose your audiences appropriately.
 
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Best practice:
Make reporting easy
 
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Finally, make it fast and easy for employees to alert you to suspicious activity.
 
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Set up strong controls
Recognize phishing
Use mobile devices safely
Stay up-to-date
Share wisely 

Make reporting easy
 
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Together, you and your employees can team up to help deter payments fraud.
Follow these best practices and contact your Wells Fargo banker for even more helpful resources.
 
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Wells Fargo
 
©2024 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.

Global Treasury Management products and services are provided by Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. is a bank affiliate of Wells Fargo & Company. Wells Fargo Bank, N.A. is not liable or responsible for obligations of its affiliates.

Wells Fargo provides best practice information related to cyber risk and/or topics for educational and information purposes only.  This document is not intended to and should not be relied on to address every aspect of the risks discussed herein.  The information provided in this document is for the purpose of helping customers and clients better protect themselves from cyber risk and highlight industry best practices for operating in a more secure manner.  This document does not provide a complete list of all cyber threats or risk mitigation activities, nor does it document all types of best practices.  Wells Fargo is not providing cyber-related advice or consulting services and customers and clients should decide whether to engage a cybersecurity firm for specific questions or advice. It is the responsibility of our customers and clients to determine their best approach for mitigating cybersecurity risk through implementation of best practice aligned to the level of risk.

Deposits held in non-U.S. branches, subsidiaries or affiliates are not FDIC or CDIC insured. Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

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