Did you know your COMPANY’S bank account doesn’t enjoy the same protections as a personal bank account when it comes to fraud? If a hacker takes money from your business account, the bank is NOT responsible for replacing your funds. (Don’t believe me? Go ask your bank what their policy is on refunding your money stolen from your account!) Many people erroneously believe the FDIC protects you from fraud; it does not. It protects you from bank insolvency.
Tip: Call your insurance professional and get a crime policy that will cover stolen funds taken from your bank account by a hacker OR a dishonest employee or vendor.
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