Business Bank Accounts

Written By Kevin McKernan

If a hacker takes money from your business account, the bank is not responsible for replacing it. 

Many people erroneously believe the FDIC protects you from fraud; it does not. 

It protects you from bank insolvency. 

Here are three things you should do: 

Tip 1: Set up two-factor authentication to log in to your bank account. 

Tip 2: Get a crime policy that will cover stolen funds from a cyberattack, fraud, or phishing attack. 

Tip 3: Require your bank to get verbal confirmation from you to wire funds and set up alerts for large checks and debits. 

This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship. 

For more information on this and other topics, please contact Kevin via any of the channels listed below:

📧 kevin@kmckernan.com  | 📞 718-317-5007

Kevin McKernan
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