In today's digital world, fraudsters are more sophisticated than ever, targeting businesses of all sizes. As technology evolves, so do the risks. Staying vigilant and implementing strong fraud prevention measures are essential to protecting your business.
To help safeguard your accounts, we've outlined some key threats and best practices for protecting your financial information.
New Tactic Targeting Treasury Clients:
Phone Number Spoofing
Scammers are using technology to make their phone number appear on your caller ID as if it is Hancock Whitney Treasury Services Client Support. If you receive an unexpected call from someone claiming to be from Hancock Whitney, do not share login credentials or other private information. We will never ask you for your login credentials over the phone.
If you suspect a fraudulent attempt, please call Treasury Services Client Support immediately at at 866-594-2304.
Common Cyber Threats
Fraudsters are ever evolving their tactics which pose significant risks to businesses. It is critical that you stay on high alert each day.
Learn more about the frequent types of threats we've been seeing:
Business Email Compromise (BEC)
In a BEC attack, a fraudster will impersonate company executives or trusted vendors through emails, instructing you to make a payment to a fraudulent bank account or to a different bank. Always verify requests before processing, especially if the request involves new banking details. It is imperative to confirm payment instructions through an alternative channel with a known contact. Failing to confirm the legitimacy of the request, could result in an unintended payment to the fraudulent requestor.
Website Spoofing
When accessing Treasury Manager, it is a best practice to first go to hancockwhitney.com and navigate to Treasury Manager in the login box. Searching for the Treasury Manager site using web search engines such as Google, Bing etc., can display a spoofed site designed to capture your login credentials for misuse. If you encounter any suspicious messages such as one asking another user to log in or a message stating that updates will take 30-60 minutes to complete, please contact Treasury Services Client Support as soon as possible at 866-594-2304.
Keep your transactions secure:
Proactive, ongoing monitoring and internal controls are the essential weapons to prevent fraud. Be aware of these best practices to identify fraud early:
- Review all outgoing payments (wires, ACH, checks) daily.
- Use Positive Pay (check and ACH) to identify suspicious transactions.
- Reconcile all bank accounts daily.
- Regularly audit user access logs and remove inactive or unnecessary users.
If you have questions about security controls, fraud prevention or training needs, contact us for guidance. You can also visit our Cybersecurity Awareness page for additional resources.
Your vigilance is critical in order to protect your accounts. We're here to help. Contact your Treasury Specialist at 866-594-2304.
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