Corporate account takeover is a type of fraud where thieves gain access to a business’ finances to make unauthorized transactions, including transferring funds from the company, creating and adding new fake employees to payroll, and stealing sensitive customer information that may not be recoverable (source: American Bankers Association 2014). With internet fraud on the rise, corporate account takeover is a real threat to every business. The following American Bankers Association article “The Small Business Guide to Corporate Account Takeover” goes over not only what corporate account takeover is but how to protect yourself and your business from falling victim to it.
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