Fraud Protection with Silverguard
Did you know that your business may be liable for losses in your business bank account due to online fraud? You might not realize that business accounts don’t have the same fraud protection as consumer accounts.
That’s why we provide SilverGuard – protection against online payment fraud.
Consumer accounts are protected by Regulation E, which limits loss from unauthorized electronic fund transfers. Regulation E does not extend to business accounts. In the event of unauthorized online funds transfer resulting in loss of funds, your business – not the bank – is liable for the loss. SilverGuard fraud protection is just one of the many ways that MineralTree protects you from fraud.
Did you know?
Businesses that suffer unauthorized electronic funds loss may not be fully reimbursed by their financial institution.
Business bank accounts typically carry large balances, so are more attractive to online hackers.
Anti-virus software doesn’t stop all malware and provides no reimbursement to your business for unauthorized funds losses.
The best time to protect against fraud is before it happens.
But if it happens, there’s MineralTree SilverGuard – our $100,000 fraud loss protection guarantee.
If your business is a victim of online fraud, you typically have 24 hours to report it to your bank, and often the lost funds are not fully recovered, even with litigation. It’s clear that the best time to protect against loss due to unauthorized funds transfer is before it happens.
SilverGuard, our payment fraud protection plan, is part of every MineralTree solution, and provides fraud loss protection up to $100,000 per year.