What you need to know:
- Account takeover is when cybercriminals gain access to a business's online account and steal money through Electronic Fund Transfers (EFTs), such as ACH and Wire.
- Account takeover is responsible for millions of dollars in losses, deteriorated business relationships, and reputational damages.
- Account takeover is the #1 cyber threat facing small to midsized businesses today; therefore, it affects financial institutions of all sizes.
EFTGuard Protects Business Online Bank Accounts from an Account Takeover:
- Risk assessment education and security software (optional).
- Business Account Takeover Loss Protection up to $100,000 per
business as a result of unauthorized access.
- No application is required from the business and the program is backed by an A-rated insurer.
EFTGuard is a program created to help businesses protect against account takeover resulting
from unauthorized access. The program delivers education, mitigation tools and protection from the risk of account takeover related fraud.
Please refer to the acutal policy for program terms, conditions and exclusions.