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The Ongoing Battle Against Credit Card Fraud

From an original article by Heartland Payment Systems

The good news is that the implementation of EMV chip-enabled cards is making a positive impact in the battle against credit card fraud. However, unless you are one of the 2 million merchants nationwide that have fully made the switch to EMV smart payment card technology, your business is still vulnerable to costly chargebacks. In fact, fraudsters are actively seeking out non-EMV enabled businesses, racking up charges that will eventually be charged back to your business.

What you may find equally shocking is that it’s possible that fraudsters have been scamming your business for years without you knowing about it. Until recently, the issuing bank was taking the loss. Now, your business will be held liable if you haven’t upgraded to EMV.

If upgrading to EMV isn’t an option for your business, there are still some steps you can take. To learn what you can do to defend your business against credit card fraud, read the full article.

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Blog Business Cash Management General News

3 Ways to Stay Active in the Office

From an original article by Sammi Caramela, B2B writer

So, how are those New Year’s resolutions going? Many of us start the year with intentions of eating healthier and getting in shape. If things are not going as you had planned, don’t worry, you’re not alone.

It doesn’t help that most professionals work desk jobs. However, there are some ways you can stay active and burn calories without having to carve a big block of time out of your schedule:

  • Take the stairs – Simply switching from the elevator to the stairs is enough to get your heart pumping and your blood flowing. If you’re on a high floor, take the elevator part of the way and finish with a shorter walk up the stairs.
  • Stand up and stretch – Take a break when you can. Grab a cup of coffee or go out for lunch. Instead of emailing or calling a colleague, walk over and speak with him or her in person.
  • Try a desk workout – A desk is a great platform you can use to stretch your shoulders. It also provides stability for exercises like calf raises and chair squats.

It doesn’t take much time or effort to fit helpful exercise into your busy daily routine. With a little creativity and planning, you’ll be back on-track to achieving your fitness goals. To learn more about staying active in the office, including a suggested “desk workout” routine, read the full article.

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Blog Business Cash Management

7 Tips to Prevent Tax ID Fraud

Brought to you by the American Banking Association

As Americans begin the process of filing tax returns, identity thieves are scheming to get their hands on that money. Tax identity theft has been the most common form of identity theft reported to the Federal Trade Commission for the past five years.

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.

Follow these tips to help prevent tax ID fraud:

  • File early. File your tax return as soon as you’re able, giving criminals less time to use your information to file a false return.
  • File on a protected wi-fi network. If you’re using an online service to file your return, be sure you’re connected to a password-protected personal network. Avoid using public networks like a wi-fi hotspot at a coffee shop.
  • Use a secure mailbox. If you’re filing by mail, drop your tax return at the post office or an official postal box instead of your mailbox at home. Some criminals look for completed tax return forms in home mailboxes during tax season.
  • Find a tax preparer you trust. If you’re planning to hire someone to do your taxes, get recommendations and research a tax preparer thoroughly before handing over all of your financial information.
  • Shred what you don’t need. Once you’ve completed your tax return, shred the sensitive documents that you no longer need and safely file away the ones you do.
  • Beware of phishing scams by email, text or phone. Scammers may try to solicit sensitive information by impersonating the IRS. Know that the IRS will not contact you by email, text or social media. If the IRS needs information, they will contact you by mail first.
  • Keep an eye out for missing mail. Fraudsters look for W-2s, tax refunds or other mail containing your financial information. If you don’t receive your W-2s, and your employer indicates they’ve been mailed, or it looks like it has been previously opened upon delivery, contact the IRS immediately.

If you believe you’re a victim of tax identity theft or if the IRS denies your tax return because one has previously been filed under your name, alert the IRS Identity Protection Specialized Unit at 1-800-908-4490. In addition, you should:

  • Respond immediately to any IRS notice and complete IRS Form 14039, Identity Theft Affidavit.
  • Contact your bank immediately, and close any accounts opened without your permission or tampered with.
  • Contact the three major credit bureaus to place a ‘fraud alert’ on your credit records:
    1. Equifax, www.Equifax.com, 1-800-525-6285
    2. Experian, www.Experian.com, 1-888-397-3742
    3. TransUnion, www.TransUnion.com, 1-800-680-7289
  • Continue to pay your taxes and file your tax return, even if you must do so by paper.

More information about tax identity theft is available from the FTC at ftc.gov/taxidtheft and the IRS at irs.gov/identitytheft.

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Blog Business Cash Management

Rising Trends in Small Business

From an original article by Adam Toren, Entrepreneur Magazine

Now more than ever, it’s easier for small businesses to maintain an effective presence through the use of social media, e-commerce, and Internet marketing. Using them successfully hinges on being current and informed on trends.

Here are some you should know:

  • Millennials – Their relationship with tech, brands, and services is non-stop. In return for improved products and services, 86% of millennials are willing to provide insight on the consumer habits.
  • Web Presence – Building and maintaining a web presence is extremely affordable now (in some cases, free). Social media duties can also be outsourced if you don’t have the time or workforce to handle it internally.
  • Online Lending – Applying for and acquiring capital is getting faster, simpler, and more convenient, mainly through peer-to-peer lending platforms.

These are only a few of the top small-biz trends. For a more in-depth look at these trends and others, read the full article.

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Blog Business

Fraud Prevention Tips for Small Biz During the Holidays

From an original article from Harland Clarke

Fraud Prevention is essential, especially during the holidays. Fraud can damage any business, but the impact on small businesses is especially devastating. Many never recover from their losses. With a majority of us preferring to shop online for gifts, it’s easy for you and your business’ security to be breached. Are you doing everything you can to protect your company?

Here are some tips that can help you safeguard your company’s assets:

  • Use high-security checks – Check fraud is the leading type of business payment fraud.
  • Review financial statements – As an owner, you should review all account statements.
  • Secure important documents – Keep business files locked away from public access.
  • Shred sensitive documents – Fraudsters go through trash and recycling bins.
  • Be wary of suspicious emails or phone inquiries – Validate requests for sensitive information, including those from financial institutions.

These are only some of the steps you can take to avoid fraud. For further details on these tips, plus five more steps you can take, download this PDF.

At Pinnacle Bank, we want to ensure that you have all of the tools to be prepared for Fraud Prevention and Cybersecurity – here are a few additional resources to learn more ways to stay protected.

Cybersecurity for Small Business: Ways to Stay Protected
FDIC Consumer News – Winter 2016

Business E-Mail Compromise: The 3.1 Billion Dollar Scam
A Public Service Announcement from the Federal Bureau of Investigation

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Blog Business

A Few Great Ideas for Promoting Your Biz During The Holidays

From an original article by Rieva Lesonsky, U.S. Small Business Administration

When you think of holiday promotions, it’s retailers that most often come to mind. However, whether you own a store, restaurant, service provider or even a B2B company, smart marketing can play a huge roll in increasing holiday sales, too.

Here are some of the ideas that can boost your bottom line during the holidays:

  • Join forces with other small businesses to hold a “sidewalk sale.”
  • Invite B2B prospects to a “getting to know you” party.
  • Hold a special sale for your best customers, at a time when you’re normally closed.
  • Send real holiday cards, not e-cards. They’re more likely to get noticed.
  • And many more!

There are many more tips we have to share with you. For the complete list of creative ideas for promoting your business during the holidays, click here.

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Blog Business

Money Smart for Small Business – A Financial Ed Program

program provided by the FDIC and SBA

Successful leaders are always looking to learn more. Whether you are an aspiring or existing entrepreneur, Money Smart for Small Business (MSSB) covers a variety of topics related to starting and managing a business.

Here are some of the topics covered in MSSB:

  • Managing cash flow
  • Record keeping
  • Financial management
  • Banking services
  • Tax planning and reporting
  • And many more!

The curriculum can be downloaded or ordered in CD format. Each module includes an instructor’s guide, participant workbook, and PowerPoint slides. Best of all, it’s free! For more details or to get started, click here.

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Blog Business

Emergency Preparedness Tips for Your Business

disasterplabFrom an original article from the U.S. Small Business Administration

With all of the daily responsibilities and ongoing challenges businesses face every day, it’s easy to forget about being prepared for emergencies. Do you and your business have a plan of action should the unexpected occur?

Here are some of the emergencies you need to be prepared for:

  • Natural disasters, such as floods, earthquakes, tornadoes, etc.
  • Cyber security attacks and vulnerabilities
  • Workplace hazards
  • Wildfires
  • And much more!

The U.S. Small Business Administration has the resources and information to help you develop a plan to protect your employees, lessen the financial impact of disasters, and re-open your business quickly to support economic recovery in your community. Read more about what you can do to be prepared for the unexpected.

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Blog Business Cash Management Fraud & Security Managing Your Business

5 Reasons Your Employees Shouldn’t Fear Making Mistakes.

From an original article by Rehan Ijaz, Entrepreneur Magazine

Mistakes happen. As a leader in your company, how do you respond to them? Some leaders create a culture of fear through micromanagement and intimidation that can have a far more negative impact than most mistakes. We’re not saying accountability isn’t important.

However, by supporting a culture that doesn’t penalize people for the occasional error, you can enjoy several key benefits:

  • A more honest and open environment
  • A more positive learning culture
  • A more innovative team
  • Fewer mistakes
  • A happier team

Take a closer look at how effective leaders can benefit from mistakes by reading the full article here.

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Blog Business General News

Everyday Leadership

From an original speech give by Drew Dudley, TED Talks

Leadership is more than a great responsibility; it’s also an incredible opportunity to change people’s lives for the better. All too often, leaders think they have to change the world to earn the title of “leader.” We celebrate the monumental accomplishments of others and fail to realize the incredible value of what we can do in our circle of friends and co-workers. There’s nothing wrong with wanting to be the next Steve Jobs or William Buffett. However, there is something wrong with considering anything less than that level of achievement a failure.

For an inspiring and encouraging look at leadership, watch the full video here