Payment Fraud

Protecting your company from payment fraud - How we can help

Ready to be protected against fraudsters altering the payee name on the checks you issue? Make the proactive choice to signup for Positive Pay and Payee Name Verification today.

Positive Pay provides you with an initial layer of protection against check fraud - It's your cornerstone for ensuring that the checks paid from your account match against the check number, amount and date that you issued. Now, you can take full advantage of cutting-edge check fraud protection by ensuring that the payee name on the check was not altered.

By including the name of the payee in your check issue file, we will go the extra mile to verify it matches the name on the check.

By signing up for Positive Pay and Payee Name Verification, you will:

Reduce the potential instance of fraudulent checks being paid

  • Each business day morning, we will present images of any possible exceptions online
  • You will decide which checks you will pay or return

Improve risk and audit scores and practices

  • Know you have put in place practices to measurably reduce risk around paper-based payments
  • Easily segregate the functions responsible for check issuance and check approval

Read more about Texas Capital Bank's full line of fraud services by clicking on fraud prevention services. Ask your account representative about additional services to protect your company from electronic payment fraud as well.

To read more about prevention in our white paper, (click on the following links) Protecting Your Company from Payment Fraud and review your internal policies and procedures against our Fraud Prevention Checklist.

To learn more about Texas Capital Bank's Fraud Prevention Services, please email us by clicking here.

Did you know?

  • Seventy-one percent of all organizations experienced actual or attempted payment fraud in 2010.
  • Checks were the dominant form of payment fraud targeted by fraudsters, with 93% of affected organizations reporting that their checks has been targeted.
  • Organizations turn to a number of fraud control services with 84% using Positive Pay and 58% using Payee Name Verification.
  • Source: 2011 Association of Financial Professionals Payment Fraud Survey. Visit AFP's Payment Fraud Resource Center for additional information.

“Fraud is a growing problem that all companies need to actively address and each day bring the probability that fraudsters will target your company. JMEG, LP had previously experienced some fraud with our payroll account and we took a proactive stance to mitigate the possibility of it occurring in the future. First and foremost, we created a formal policy which we monitor and enforce. Secondly, we partner with Texas Capital Bank and use their array of fraud prevention products, including Positive Pay and ACH Debit Blocks and Filters. So, don't leave your fraud future to chance. Be proactive in your policies.”

John Wall, Vice President, JMEG, LP, Electrical Contractors